The sharemarket weakened, in line with other markets in Asia, amid concerns over the potential for ripple effects from the financial troubles of Chinese developer Evergrande. The benchmark S&P/NZX 50 Index fell 55.975 points, or 0.4 per cent, to 13,178.58 on Monday. Stocks closed lower on Wall Street on Friday and trading was thin in Asia on Monday with some markets closed for holidays. SmartPay Holdings fell 3.4 per cent to 71 cents after the eftpos provider said Covid-19 lockdowns had hurt its revenue in Australia. Kathmandu Holdings fell 1.4 per cent to $1.46 ahead of its full-year profit result on Tuesday.

Source: Stuff September 20, 2021 06:00 UTC