The New Zealand sharemarket was flat today in the dead zone between Christmas and New Year - only 7.45 million shares changed hands, valued at $18.36 million.
Some of the regional markets across Asia were a little firmer in light holiday trade - following mostly higher leads from the United
States - but the NZX top 50 index fell 0.108 per cent, or 3.59 points, to 3325.62, compared to the close on Friday.
In Australia, the ASX 200 was 0.2 per cent lower at 4766 after fading from an early high of 4784 - also in extremely light trading volumes - and commentators pointed to the prospect of bad news for NSW and Queensland miners from continuing floods.
The New Zealand dollar followed its Australian and Canadian counterparts higher as China cut rare earth exports - fuelling demand for "commodity currencies" already under pressure from an interest rate rise in China.
In Asia, Hong Kong's Hang Seng rose 0.9 per cent while the Nikkei stock average was up 0.4 per cent and Shanghai's composite was stronger by 0.1 per cent.
But in New Zealand, Auckland Airport rose 3c to 220, and a lot of shares nudged up 1c, including Nuplex to 350, Michael Hill to 880, Goodman Property to 95, Fisher and Paykel Healthcare to 317 and Ebos Group to 732.
Fletcher Building eased 2c to 773, and fellow leading stock Telecom fell 1.8 per cent, or 4c to 218c, on a volume of 3.16m shares.
Among energy stocks, Contact rose 1c to 621, and Trustpower fell 5c to 735, while among the banks, ANZ Bank fell 15c to 3150, and Westpac rose 29c to 3079.
In Sydney, where the Chinese interest rate hikes on Saturday hurt resource stocks, Tower Australia - a spin-off from Tower New Zealand - jumped 42c to A$3.88 after Dai-ichi Life Insurance offered A$4 a share.
The US's Dow Jones industrial average finished slightly higher, though stocks had dipped earlier on disappointing consumer confidence and home prices reports.
The Dow edged up 20.51 points, or 0.2 per cent, to 11,575.54. The Standard and Poor's 500 index was up 0.97, or less than 0.1 per cent, to 1258.51. The technology-focused Nasdaq composite index lost 4.39 points or 0.2 per cent, to 2662.88.
- NZPA
