New Zealand share prices closed 0.70 percent lower on Monday as markets world-wide remain concerned by inflation and interest rate risks, dealers said.
The benchmark NZSX-50 gross index dropped 25.66 points to 3,653.53 on turnover worth 123.08 million New Zealand dollars (75.48 million US).
Falls outnumbered rises by 58 to 43 among the 151 stocks traded.
Top stock Telecom, which drove the market up late last week with a rise of almost four percent, lost five cents to close at 4.69 dollars, having been as low as 463. Elsewhere the market was mixed.
Ryman Healthcare gained 15 cents to 7.25, Nuplex was also up 15 cents at 6.55, and Contact Energy rose one cent to 7.91
Other falling stocks included Fletcher Building, down 10 cents at 9.30, and The Warehouse was down five cents at 3.60 dollars.