Within the S&P/NZX 50 index, 25 stocks gained, 14 fell and 11 were unchanged. Turnover was about $124 million.
Within the S&P/NZX 50 index, 25 stocks gained, 14 fell and 11 were unchanged. Turnover was about $124 million.
The New Zealand share market took its cue from the major offshore markets to start the holiday-shortened week on a soft note, with technology-based stocks leading the way.
By late morning, the S&P NZX50 index was down by nearly 50 points or 0.8 per cent at 6105, following onfrom a 1.3 per cent fall on the Dow Jones industrial index and a 3.3 per cent drop on the technology-heavy NASDAQ index.
"I think that we are just following overseas trend at this point," Mark Lister, head of private wealth research at Craigs IP, said. Some New Zealand technology-based stocks were playing catch-up, after Monday's holiday, with in US tech stocks stock markets late on Friday and yesterday.
Among the movements, Cloud-base accounting firm Xero dropped 50c to $15.75 and information technology company Orion Health dropped by 17c to $2.83.
