NZ shares fall on China import figures

New Zealand shares fell after figures showed China's imports growing less than expected and as investors await the start of US earnings season.

Fletcher Building and Fisher & Paykel Healthcare paced the decline.

The NZX 50 Index fell 15.46 points, or 0.4 per cent, to 3464.72. Within the index, 25 stocks fell, 16 rose and nine were unchanged. Turnover was $ 96.6 million.

Imports by China, New Zealand's second-largest market after Australia, rose 6.3 per cent in June from a year earlier, compared to expectations in a Bloomberg survey of 11 per cent.

Meantime, US earnings will give investors an update on corporate health in the world's biggest economy.

"Everybody watching and getting a gauge on where the US economy is sitting and how that translates into profit," said Mark Lister, head of private wealth research at Craigs Investment Partners.

"In our market, the good results will come from domestically focused stocks - some of the export stocks will still be feeling the high currency."

Fletcher, the nation's biggest building materials company, fell 1.6 per cent to $6.10.

The New Zealand Institute of Economic Research's latest quarterly survey of business opinion showed firms turned negative in the second quarter, with a net 1 per cent of those surveyed pessimistic about the general business situation, compared to a net 24 per cent of optimists in the previous period.

Shares of Michael Hill International were unchanged at 99 cents after the listed jewellery chain said full-year same-store sales edged up 0.3 per cent as revenue in its largest market of Australia continued to shrink.

Metlifecare, the retirement village operator, was unchanged at $2.12.

The company said on Tuesday it has received approval under the Overseas Investment Act for its merger with Vision Senior Living and Private Life Care.

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