Market close: NZ stocks finish day lower - Kiwi sharemarket stoic, while Australian market heads down

The New Zealand sharemarket remained stoic as its counterpart across the Tasman plunged more than 1.5% from record highs on increasing bond yields.

The S&P/NZX 50 Index fell sharply at the opening, then traded steadily till a late dip and closed at 12,813.15, down 110.07 points or 0.85% after reaching