Trade tailwind slows market; Spark, Z Energy decline

The S&P/NZX 50 decreased 10.33 points, or 0.1 percent, to 8,865.76. Within the index 25 stocks fell, 14 rose, and 11 were unchanged. Turnover was $110.6 million.

Trading across Asia was more muted today after a strong gain Monday after US and Chinese presidents Donald Trump and Xi Jinping adopted a calmer stance in their trade dispute. 

"We had a good day yesterday and things were quite good overnight, but it wasn't enough to lift us again," said David Price, a broker at Forsyth Barr. "The volumes are still pretty quiet and I think that'll be the case as we wind down until Christmas."

Spark declined 1.5 percent to $4.21, with 4.5 million shares changing hands, compared to its average 2.9 million. The telecommunications company yesterday closed at its highest price since divesting Chorus as a standalone company. Today, it updated analysts on new earnings measures as it adopts the latest accounting standards, listing rules and accounts for Spark's new agile operating structure. Chorus decreased 0.2 percent to $4.75 on light volumes.