NZ sharemarket joins global sell-off

THE S&P/NZX 50 Index has closed 0.7 per cent lower, amid renewed concerns about the Chinese economy and as some stocks shed rights to their dividends.

NEW Zealand shares have joined a global sell-off, driven by concerns Chinese economic growth is slowing.

THE S&P/NZX 50 Index fell 42.45 points, or 0.7 per cent, to 6564.34 on Wednesday.