RTTNews - weak opens are expected Tuesday for the New Zealand and Australia sharemarkets, following Wall Street's losses. U.S. stocks were headed toward a negative close, as a round of profit taking interrupted the string of recent gains.
New Zealand's market opened the week with a solid gain.
The benchmark NZX 50 index closed higher by 11.9 points or 0.39 percent at 3,080.9.
The New Zealand Stock Exchange reported trading volume of 33.2 million shares valued at NZ$81.6 million.
Advancing issues outnumbered decliners 61 to 25 with 29 unchanged.
Among the session's most heavily traded issues, Auckland International Airport was up NZ$0.01 after reporting the completion of a NZ$25 million private bond sale, AMP NZ Office Trust was up .03, Fletcher Building was down .14, Fisher & Paykel Appliances was unchanged, Goodman Property Trust was up .02, Pike River Coal was up .03, SkyCity Entertainment was unchanged and Telecom Corp of NZ was down two cents.
Among the Australia-New Zealand dual-listed stocks, Telstra was up .06, Westpac Bank was down .17, Australia and NZ Bank was down .09, AMP was down .08, APN News & Media was down 3.5 cents and Lion Nathan was down a penny.
Across the Tasman, Australia's market turned in a relatively flat performance, despite a strong open.
The benchmark S&P/ASX 200 Index closed with a gain of 4.7 points or 0.1 percent at 4,304.1 while the broader All Ordinaries index was up 6.1 points or 0.1 percent at 4,309.2.
Market turnover hit 3.71 billion shares valued at A$4.71 billion.
Advancing issues outpaced decliners 616 to 471 with 324 unchanged.
In the resources sector, mining conglomerate Rio Tinto was down A$2.02 or 3.3 percent after Chinese officials accused the firm of spying on its domestic companies. Rival BHP Billiton was down .24, Fortescue Metals was down .25 and OZ Minerals was up a penny.
The coal mining sector was higher, boosted by reports that China's Yanzhou Coal had reached an agreement to acquire Felix Resources. Felix Resources shares were in a trading halt, while Macarthur Coal was up .35 or 4.5 percent and Centennial Coal was up .13 or 4.4 percent.
Among the major banks, Australia and NZ Banking Group was down .09, Commonwealth Bank of Australia was down .61 in advance of Wednesday's annual earning's report, National Australia Bank was down .04 and Westpac Bank was down .17. Investment bank Macquarie Group was up .53.
The retail sector was higher, with Woolworths up .50, Wesfarmers was up .81, Harvey Norman was up a penny and David Jones was up .04.
Overseas, a round of profit taking halted Wall Street's rally on Monday.
About 20 minutes before the close, the Dow Jones Industrial Average was down 51.08 points or 0.55 percent at 9,318.99, the Nasdaq Composite index was lower by 10.75 points or 0.54 percent at 1,989.50 and the Standard & Poor's 500 Index was down 5.49 points or 0.54 percent at 1,004.99.
Most major markets in the Asia/Pacific region closed higher on Monday.
In Japan, the Nikkei 225 Average advanced 112.17 points or 1.08 percent to 10,524.26.
Hong Kong's Hang Seng index jumped 554.15 points or 2.72 percent to 20,929.52.
The Shanghai Composite index in China was down 10.93 points or 0.34 percent to 3.249.76.
In India, the BSE 30 index was down 150.47 points or 0.99 percent at 15,009.77.
Indonesia's Jakarta Composite index was pf 40.43 points or 1.72 percent at 2.389.56.
The KOSPI/Seoul Composite index was up 0.11 points or 0.01 percent at 1,576.11.
The Taiwan Weighted Index was up 14.22 points or 0.21 percent at 6,882.87.
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