RTTNews - A strong negative lead from Wall Street is expected to translate into opening losses Wednesday for the New Zealand and Australia sharemarkets.

U.S. markets plunged on new concerns about the financial sector, despite encouraging manufacturing sector data

New Zealand's market closed lower on Tuesday, but off of its session lows.

The benchmark NZX 50 index declined 13.3 points or 0.4 percent at 3,084.7.

Trading volume was reported by the New Zealand Stock Exchange at 96.6 million shares valued at NZ$160.2 million.

There were 37 stocks closing higher, 45 were lower and 36 were unchanged.

Among the most actively traded stocks, Auckland International Airport was up NZ$0.03, Air NZ was unchanged, AMP NZ Office Trust was up .01, Fletcher Building was down .12, Fisher & Paykel Appliances was down .02, Goodman Property Trust was down one cent, Kiwi Income Property Trust was down two cents, New Zealand Farming Systems was down a penny, SkyCity Entertainment was down a nickel, Telecom Corp of NZ was down six cents and Vector was unchanged.

Among the Australia-NZ dual-listed stocks, Telstra was up two cents, Westpac Bank was up .48, AMP was up .24 and Australia and NZ Banking Group was up .71.

Australia's market rebounded sharply on Tuesday., boosted by strength in the financial and mining sectors.

The benchmark S&P/ASX200 index advanced 35.5 points or 0.8 percent to 4,514.6 while the broader All Ordinaries index was up 27.2 points or 0.6 percent to 4,511.3.

Despite the index gain, decliners outnumbered advancers among the S&P/ASX200 component stocks, with 100 stocks finishing lower, 90 higher and 10 unchanged.

The major miners were higher, with global leader BHP Billiton up A$0.49 and rival Rio Tinto up $1.25. Among the others, Fortescue Metals was down .11 and OZ Minerals was unchanged.

For the gold miners, Lihir Gold was down a penny, Newcrest Mining was down .26 and Newmont was down .03.

Among the major banks, Australia and NZ Banking Group was up .71, Commonwealth Bank of Australia was up .31, National Australia Bank was up .71 and Westpac gained .48.

In overseas trading, U.S. stocks moved sharply lower on Tuesday, as new worries about the health of the banking sector sent traders into selling mode.
Markets around the Asia/Pacific region were mixed on Tuesday. About 10 minutes before the closing bell, the Dow Jones Industrial Average was down 186.82 points or 1.97 percent at 9,309.46, the Nasdaq Composite Index was lower by 39.82 points or 1.98 percent at 1,969.24 and the Standard & Poor's 500 index was down 22.69 points or 2.22 percent at 997.93.

Japan's Nikkei 225 Average closed with a gain of 37.53 points or 0.36 percent at 10,530.06.

Hong Kong's Hang Seng index was up 148.11 points or 0.75 percent at 19,872.30.

In China, the Shanghai Composite index advanced 15.98 points or 0.60 percent at 2.683.72.

The BSE 30 index in India was down 115.45 points or 0.74 percent at 15,551.19.

In Indonesia, the Jakarta Composite index was down 14.62 points or 0.62 percent at 2.326.91.

South Korea's KOSPI/Seoul Composite index was up 31.21 points or 1.96 percent at 1,623.06.

The Taiwan Weighted Index was up 193.80 points or 2.84 percent at 7,019.75.

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