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Tuesday, May 24, 2022

Australia shares close slightly lower, NZ stocks dip on China woes

Australia shares close slightly lower, NZ stocks dip on China woesSYDNEY: Australian shares closed marginally lower on Tuesday as strength in the energy and healthcare sectors largely offset worries about China’s economy.

The S&P/ASX 200 index ended down 0.1 percent at 5,584.7 points, after falling nearly 1 percent in early trade. The benchmark was on track for a 2.4 percent gain for the month.

New Zealand’s benchmark NZX 50 index dipped 0.4 percent or 23.67 points to finish at 5,848.39.

Chinese shares whip-sawed between gains and losses on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world’s second biggest economy.

Copyright Reuters, 2015

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