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Highlights:
- The NZ share market was down after today’s market session.
- The top NZX gainers included PaySauce, Chatham Rock Phosphate, and Wellington Drive Technologies.
The New Zealand share market was in the red on Wednesday. The S&P/NZX50 benchmark index on 7 September ended the trading session at 11,548.300, down 0.58% or 67.460 points. Except for the S&P/NZX All Health Care, all other indices ended the market session lower. Among them, the S&P/NZX All Materials and the S&P/NZX All Consumer Staples were down 2.77% and 2.01%, respectively.
Source: © Teguhjatipras | Megapixl.com
NZX gainers and losers
Today’s NZX gainers included PaySauce Limited (NZX:PYS), which rose 5.26%, Chatham Rock Phosphate Limited (NZX:CRP), up 3.13%, and Wellington Drive Technologies Limited (NZX:WDT), whose shares gained 2.90%, among others.
On the flip side, Promisia Healthcare Limited (NZX:PHL) lost 50.00% today. Other NZX decliners for the day were New Talisman Gold Mines Limited (NZX:NTL), which fell 33.33%, Metro Performance Glass Limited (NZX:MPG), whose share prices dropped 8.70%, and Blis Technologies Limited (NZX:BLT), which declined 6.06%.
On Wednesday, the daily value traded on the NZX was about NZ$136 million.
Global markets
US stocks traded lower on 6 September in a volatile trading session as concerned investors kept a close watch on the Fed’s aggressive rate hike campaign. The NASDAQ lost 0.74%, the Dow Jones shed 0.55% and the S&P 500 fell 0.41%, on Tuesday.
Asian markets, too, were bleak on Wednesday. In Japan, the Nikkei 225 was down 1.08%, Hong Kong’s Hang Seng fell 1.73% and South Korea’s Kospi slipped 1.55% at the time of writing (7 September).
Oil and gold down
Oil prices dropped on Wednesday as expectations of further rate hikes fueled concerns over a global economic recession and sluggish crude demand. Currently, Brent Oil Futures are down 1.23% to US$91.71.
The yellow metal lost its sheen on Wednesday as the bullion’s appeal faded in front of a strong US dollar and treasury yields as concerns grew over the Federal Reserve’s continuation of tightening interest rates. On 7 September, at the time of writing this article, Gold Futures were lower 0.21% to US$1709.15 an ounce.