Mixed Opens Seen For New Zealand, Australia Markets

(RTTNews) - Mixed opens are expected Wednesday for the New Zealand and Australia sharemarkets, which got a lukewarm lead from Wall Street. U.S. markets were headed toward a mixed close.

New Zealand traders returned to work Tuesday after an extended weekend. The kiwi market joined the region-wide move lower, with the benchmark NZX-50 index declining 22.5 points or 0.7 percent to 3,192.

Declining stocks outnumbered advancers by 71 to 20 with 28 unchanged.

Among the stocks of note, Fletcher Building was down NZ$0.13, Contact Energy was down .04, Fisher & Paykel Healthcare was up a nickel and Telecom Corp of NZ was down one cent.

Across the Tasman, Australian stocks were also broadly lower.

The benchmark S&P/ASX200 index fell 76.8 points or 1.6 percent to 4,753.5 while the broader All Ordinaries index declined 77.7 points or 1.6 percent to 4.754.9.

Trading volume was 3.25 billion shares valued at A$6.1 billion.

Decliners outnumbered advancers 895 to 278 with 298 unchanged.

The banking sector was lower, with Australia and NZ Banking Group down .05, Commonwealth Bank of Australia was down .83, National Australia was down .06 and Westpac was down .30.

Among the mining leaders, BHP Billiton was down .88 while Rival Rio Tinto was down $1.89.

In the gold sector, Newcrest mining was down NZ$1.09, Lihir Gold was down .13 and Newmont Mining was down .19.

In overseas trading, Wall Street turned in a mixed performance on Tuesday. At the close, the Dow Jones Industrial Average was up 14.21 points or 0.14 percent at 9.882.17, the Nasdaq Composite Index fell 25.76 points or 1.20 percent to 2,116.09 and the Standard & Poor’s 500 index declined 3.53 points or 0.33 percent to 1,063.42.

Other Asia/Pacific region markets were lower on Tuesday.

Japan’s Nikkei 225 Average was down 150.16 points or 1.45 percent at 10,212.46.

In Hong Kong, the Hang Seng index fell 420.114 points or 1.86 percent to 22,169.59.

China’s Shanghai Composite index fell 88.11 points or 2.83 percent to 3.021.46.

In South Korea, the KOSPI/Seoul Composite index was down 7.58 points or 0.46 percent at 1,649.53.

The Taiwan Weighted Index declined 11.06 points or 0.14 percent to 7,657.34.

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