The New Zealand sharemarket dipped sharply on Thursday, with the NZX 50 index closing down 31 points, or 1.1%, to 2796 on turnover of $71.1 million.
Telecom finished down 7 cents to $2.55, Fletcher Building was down 14c to $6.75, Rakon was down 8c to $1.54 and Fisher & Paykel Appliances was down 3c to 63c.
The dollar was buying 63.71 US cents, 78.48 Australian cents, 38.8 pence, 62.34 yen and 0.4535 euro. The Trade Weighted Index was 60.20.
Across the Tasman, the Australian sharemarket closed up as resource stocks continued their strong gains.
The S&P/ASX200 index was up 22.8 points to 4047.2, while the All Ordinaries index was up 31 points to 4047.3.
It was the strongest close for both indexes since 10 November 2008.
