RTTNews - Mixed opens are expected Wednesday for the New Zealand and Australia sharemarkets. U.S. stocks were lower on continued economic recovery jitters.
New Zealand's market went along with the sell-off in most global markets on Tuesday. The benchmark NZX-50 index dropped 39.0 points or 1.4 percent to close at 2,786.15.
Turnover was reported by the New Zealand Stock Exchange at 44.2 million shares worth NZ$114.7 million.
Among the session's most actively traded stocks, Auckland International Airport was down NZ$0.01, AMP New Zealand Office Trust was also down .01, Fletcher Building fell .18, Fisher & Paykel Appliances was down .02, Nuplex was unchanged, SkyCity Entertainment was unchanged and Telecom Corp of NZ was down a nickel.
Australia's market similarly joined the downward trend.
The benchmark S&P/ASX200 index declined 69.2 points or 1.7 percent to 3,962.5 while the broader All Ordinaries index fell 72.5 points or 1.8 percent to 3,957.9.
Market turnover totaled 2.22 billion shares valued at A$4.86 billion.
Declining issues outnumbered advancers 769 to 327 with 325 unchanged.
In the mining sector, Rio Tinto shares were down A$2.27 or 3 percent with a pending re-calculation following this week's $15 billion rights issue, expected to cause the share price to fall on Wednesday.
Rival global miner BHP Billiton was down .54.
Elsewhere in the resources sector, oil explorer/producer Woodside Petroleum fell $1.35, Santos was down .72 or nearly 5 percent and Oil Search was down .17.
The gold miners were mixed, with Lihir Gold down a penny, Newcrest mining up .04 and Newmont Mining down .07.
The big banks were lower, with Australia and NZ Banking Group down .50, Commonwealth Bank of Australia down .11, National Australia was down .28 and Westpac fell a penny.
The major retailers were mixed, with Woolworths up four cents, Wesfarmers was down .46, David Jones was down .07, Harvey Norman was down .12 and JB Hi-Fi was up .22.
Overseas, fears that the economic recovery might not occur as soon as was hoped sent Wall Street lower again on Tuesday.
With about a half hour to go before the closing bell, the Dow Jones Industrial Average was down 71.79 points or 0.83 percent at 8.540.34, the Nasdaq Composite index was down 12.59 points or 0.69 percent at 1,803.79 and the Standard & Poor's 500 index was lower by 8.32 points or 0.90 percent at 915.40.
Most of the major market indices in the Asia/Pacific region finished lower on Tuesday.
In Japan, the Nikkei 225 Average fell 286.79 points or 2.86 percent to 9,752.88.
The Hang Seng index in Hong Kong was down 333.46 points or 1.80 percent at 18.165.50.
China's Shanghai Composite index fell 13.53 points or 0.48 percent to 2,776.02.
In India, the BSE 30 index was up 82.39 points or 0.55 percent at 14,957.91.
Indonesia's Jakarta Composite index declined 39.51 points or 1.91 percent to 2.030.37.
The KOSPI/Seoul Composite index in South Korea declined 13.29 points or 0.94 percent to 1,399.15.
The Taiwan Weighted Index dropped 3.75 points or 0.08 percent to 6.220.81.
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