Australia: Shares drop, but set for best weekly gain since 2011; New Zealand higher

The Business Times | Mar 27, 2020 at 12:00 AM
  • Australian shares fell on Friday as investors booked profits amid rising coronavirus cases at home, but the index was set for its best weekly gain since 2011 as policymakers launched a raft of stimulus efforts to buttress the global economy.
  • On Friday, the selling was concentrated in mining stocks and financials.
  • In New Zealand, the benchmark S&P/NZX 50 index rose 1.6 per cent, or 154.3 points, to 9,786.7, and was set for its best weekly gain on record.