RTTNews - Lower opens were expected Tuesday for the New Zealand and Australia sharemarkets. Wall Street provided a lower lead overnight.

The New Zealand and Australia markets joined the region-wide downward move on Monday.

In New Zealand, the sharemarket opened higher but turned lower to follow the rest of the Asia/Pacific region markets to lower territory.

The benchmark NZX-50 index declined 11.3 points or 0.4 percent to 3,098.0

The New Zealand Stock Exchange reported trading volume of 43.6 million shares valued at NZ$97.3 million.

There were 45 stocks closing higher, 44 were lower and 30 were unchanged.

Among the session's most heavily traded issues, Auckland International Airport was down NZ$0.03, Air NZ was up .01, AMP New Zealand Office Trust was up .01, Fletcher Building was down .16, Fisher & Paykel Appliances was unchanged, Goodman Property Trust was up a penny, Kiwi Income Property Trust was down one cent, Nuplex was down a penny, PGG Wrightson was down .03, Pike River Coal was unchanged, Restaurant Brands NZ was down .01, SkyCity Entertainment was down a nickel and Telecom Corp of NZ was down .04.

Among the New Zealand-Australia dual-listed issues, Telstra was down .11, Westpac Bank was up .06, AMP was down .15 and Australia and NZ Bank was up .83.

Across the Tasman, Australia's market followed the regional move downward. The benchmark S&P/ASX200 index declined 10.5 points or 0.2 percent to 4.479.1 while the broader All Ordinaries index was down 11.8 points or 0.3 percent at 4,484.1.

Of the ASX200 component stocks, 86 closed higher, 101 were lower and 13 closed unchanged.

The big four banks managed to post modest gains.

Australia and NZ Banking Group was up A$0.80 or more than 4 percent after projecting profit growth for fiscal 2010. Commonwealth Bank of Australia was up .85, National Australia Bank was up .67 and Westpac Bank gained .06. Investment bank Macquarie Group was up A$1.85.

In the resources sector, the mining leaders declined. BHP Billiton was down $1.05 while Rio Tinto was down $1.19. Fortescue Metals was down .03 and OZ Minerals was up a penny.

For the energy-related stocks, Woodside Petroleum declined .70, Santos was down .09, Origin Energy was down .07 and Oil Search was lower by .10.

Among the gold stocks, Newcrest Mining was up .81, Newmont was up .09 and Lihir Gold was up a nickel.

In overseas trading, U.S. markets moved broadly lower on Monday, following Asia's lead. About 15 minutes before the closing bell on Wall Street, the Dow Jones Industrial Average was down 67.87 points or 0.71 percent at 9,476.33, the Nasdaq Composite index was down 20.43 points or 1.01 percent at 2.008.34 and the Standard and Poor's 500 index was down 9.20 points or 0.89 percent at 1,019.73.

Except for Taiwan's, all of the major markets in the Asia/Pacific region closed lower on Monday.

In Japan, the Nikkei 225 Average declined 41.61 points or 0.40 percent to 10,492.53.

Hong Kong's Hang Seng index was down 374.43 points or 1.86 percent at 19,724.19.

The Shanghai Composite index in China was down 192.94 points or 6.74 percent at 2,667.75.

In India, the BSE 30 index dropped 255.70 points or 1.61 percent at 15,666.64.

Indonesia's Jakarta Composite index was down 35.71 points or 1.50 percent at 2,341.54.

The KOSPI/Seoul Composite index in South Korea fell 16.09 points or 1.00 percent at 1,591.85.

The Taiwan Weighted Index advanced 16.09 percent or 0.24 percent to 6,825.95.

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