Economy

Wuhan coronavirus: NZ sharemarket takes a hit

New Zealand's financial markets have been hit by the global concerns surrounding the coronavirus.

The local sharemarket, which escaped with modest losses yesterday, has fallen more sharply today, following other international exchanges.

The benchmark NZX Top 50 index is down more than 100 points, or nearly 1 percent, with tourism and travel related stocks suffering the most.

Campervan rental company Tourism Holdings, which also operates the Waitomo Caves attraction, is down more than 6 percent, although the company said it's seen no virus-related effect on its business.

Auckland Airport is down 1.3 percent and Air New Zealand, which flies to five Chinese cities, is down nearly 4 percent.

The New Zealand dollar has also fallen against the US and Japanese yen as investors buy safe haven assets.

This article was originally published on RNZ and re-published with permission.

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