Shares flat-line as coronavirus concerns reemerge
The S&P/NZX 50 Index decreased 10.86 points, or 0.1 percent, to 11,665.65. Within the index, 24 stocks rose, 21 fell and 5 were unchanged. Turnover was $498.8 million, due to the sell-down of Oceania Healthcare's cornerstone shareholder.
Indices in Japan, Singapore, Hong Kong and Australia all fell. The Hang Seng was down 1.7 percent in afternoon trading and the S&P/ASX 200 Index fell 0.4 percent. The mainland Chinese markets in Shanghai and Shenzhen are closed until Feb. 3.
Matthew Goodson, managing director at Salt Funds Management, said the local market was following broader weakness across Asian markets.
“Coronavirus fears just raising their heads a little again, Asian markets are down between 1.5 and 3 percent which has headed over to Australia to a moderate degree and New Zealand to a lesser degree again,” he said.
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