New Zealand share prices closed 0.48 percent lower on Monday after another fall in US stocks at the end of last week spooked investors, dealers said. The benchmark NZX-50 index fell 17.45 points to 3,646.91 on turnover worth 85.19 million dollars (64.7 million US). There were 64 falling stocks and 35 rises among the 141 stocks traded.
New Zealand stocks have not had a positive session since the start of the year, racking up 13 straight losing sessions. Trading was light due to a regional holiday in Wellington and a long weekend in the US.
Blue chips remained under pressure with Contact Energy falling 22 cents to 7.28 dollars, market leader Telecom down five cents at 4.09, and Fletcher Building easing one cent to 10.00. Port of Tauranga was down five cents at 6.15 dollars, Auckland Airport was down six cents at 2.54 and Air New Zealand was down two cents at 1.73.
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