28 Jan 2020

NZ stock market takes hit

5:48 pm on 28 January 2020

New Zealand's stock market has taken another hit today.

stock exchange ticker tape

The NZX Top 50 Index fell by 1 percent. Photo: PHOTO NZ

The NZX Top 50 Index fell by 1 percent, dragged down by weakness in tourism-related stocks, including Air New Zealand, Auckland Airport, Tourism Holdings and SkyCity.

Global stocks and oil prices have tumbled over recent sessions because of the spread of the Wuhan virus.

The New Zealand dollar is steady, but has gained a bit against the Australian dollar, which has fallen in line with the Chinese yuan.