InfoAnda - NZ stocks close down 2 pct, near-5 year low

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: NZ stocks close down 2 pct, near-5 year low Reuters - Tuesday, February 24 WELLINGTON, Feb 24 - New Zealand's benchmark stock index closed at a near five year low on Tuesday as it followed Wall Street's loss of confidence. ADVERTISEMENT The benchmark NZX-50 index <.NZ50> closed unofficially down 2 percent or 50.76 points at 2,487.53, its lowest level since March 2004. At one stage the index was down 2.2 percent on the day before trimming its losses. Top stock Telecom Corp <TEL.NZ> overturned early weakness to close up one cent, or 0.4 percent, at NZ$2.38, but that was offset by a fall of 4.1 percent for the second ranked stock, Contact Energy Ltd <CEN.NZ>, at NZ$5.80. Earlier it reported a 79 percent drop in its net first half profit. Other bourses throughout Asia were also weaker with Tokyo <.N225> down 2.2 percent and Hong Kong <.HSI> 3.4 percent lower. Wall Street fell 3.4 percent to a 12-year low as investors worried about what the U.S. government will do to stablise the banking system. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Hitachi to work with British fuel cell projectAP - 1 hour 1 minute ago Asia markets fall amid relentless financial fearsAP - 1 hour 6 minutes ago MONEY MARKETS-S.Korea pumps in dollars, Malaysia yields upReuters - 1 hour 10 minutes ago Turkey - Factors to Watch on Feb 24Reuters - 1 hour 11 minutes ago Japan's Takashimaya to open Shanghai department storeAFP - 1 hour 11 minutes ago Most Popular – Business Viewed 34,000 apply for 'the best job in the world' Terminally ill British TV star marries as cameras roll World stocks mostly rally on Citigroup report US could take 25-40 percent stake in Citi: WSJ Markets tumble as US unveils bank rescue details View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Tuesday, 24 February 2009
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