RTTNews - Mixed to lower opens are expected for the New Zealand and Australia sharemarkets on Wednesday, following another round of profit-taking on Wall Street overnight. U.S. stocks moved lower while traders awaited the Federal Reserve's rate decision and prognosis on the economy on Wednesday.
New Zealand's market was one of the few in the region to close lower on Tuesday.
The benchmark NZX 50 index declined 25.5 points or 0.8 percent at 3.055.5.
The New Zealand Stock Exchange reported trading volume of 42.5 million shares worth NZ$83.1 million.
Declining issues outnumbered advancers 54 to 30 with 30 unchanged.
The list of most actively traded stocks includes AMP New Zealand Office Trust, which was up NZ$0.01, Fletcher Building was down .16, Fisher & Paykel Appliances was down .02, Infratil was up .02, Kiwi Income Property Trust was unchanged, SkyCity Entertainment Group was down a penny and Telecom Corp of NZ was down three cents.
Among the dual-listed issues, Westpac Bank was up .36, Telstra was up .02, Lion Nathan was down a penny, Goodman was unchanged, AMP was up .06, APN News & Media was down a nickel and Australia and NZ Bank was up .40.
Across the Tasman, Australia's market opened lower but staged a strong comeback to finish in the green.
The benchmark S&P/ASX200 index advanced 27.9 points or 0.65 percent at 4,332.0 while the broader All Ordinaries index was up 25.2 points or 0.6 percent at 4,334.4.
Market turnover totaled 2.41 billion shares valued at A$4.81 billion.
Advancers outnumbered decliners 558 to 490 with 336 unchanged.
In the retail sector, JB Hi-Fi jumped A$1.38 or nearly 9 percent after posting record high annual earnings. Among the others, Woolworths was down .11, Wesfarmers was up a penny, David Jones was up .07 and Harvey Norman was up .04.
Among the major banks, Commonwealth Bank of Australia advanced .09 in advance of Wednesday's full year earnings report, Australia and NZ Bank was up .40, National Australia Bank was up .56 and Westpac advanced .36. Investment bank Macquarie Group was up .98.
In the resources sector, global mining giant BHP Billiton was down .16 while rival Rio Tinto was down .65. Among the others, Fortescue Metals was up a nickel and OZ Minerals was up .04.
Overseas, Wall Street moved lower for a second straight session on Tuesday, as traders pulled back in advance of Wednesday's rate decision and economic statement from the Federal Reserve.
About 15 minutes before the closing bell, the Dow Jones Industrial Average was down 66.80 points or 0.72 percent at 9,271.15, the Standard and Poor's 500 index was down 9.81 points or 0.97 percent at 997.29 and the Nasdaq Composite Index was lower by 17.17 points or 0.86 percent at 1,975.07.
Other major markets in the Asia/Pacific region closed higher on Tuesday.
Japan's Nikkei 225 Average advanced 61.20 points or 0.58 percent to 10,585.46.
The Hang Seng index in Hong Kong was up 144.69 points or 0.69 percent at 21,074.21.
In China, the Shanghai Composite index rose 14.97 points or 0.46 percent to 3.264.73.
India's BSE 30 index was up 64.82 points or 0.43 percent at 15.074.59.
The Jakarta Composite index in Indonesia was up 9.71 points or 0.41 percent at 2.399.28.
South Korea's KOSPI/Seoul Composite index was up 3.10 percent or 0.20 percent at 1,579.21.
The Taiwan Weighted Index was up 26.15 points or 0.30 percent at 6,909.02.
For comments and feedback: contact email@example.com