The value of cash market trading on the NZX topped $5 billion last month with the value of equities changing hands almost doubling from a year earlier after state-controlled energy company MightyRiverPower joined the bourse. Total value traded jumped 92 percent in May for an average daily value of $218 million, according to NZX’s monthly shareholder metrics. That was off …

The New Zealand dollar fell to a nine-month low as investors concerned about global growth moved to the relative safety of US Treasuries. The kiwi dropped to as low as 79.25 US cents early this morning and recently traded at 79.48 cents, down from 80.46 cents at 5pm yesterday. The trade-weighted index slid to 74.64 from 75.45. Investors sold equities …

Wall Street sank amid disappointing jobs data and concern about chances the US Federal Reserve will ease back its stimulus measures. “Overall economic activity increased at a modest to moderate pace,” the Fed said in its Beige Book. “Hiring increased at a measured pace in several Districts, with some contacts noting difficulty finding qualified workers.” The Fed is looking for …