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SCMP Reporter

New Zealand shares closed lower yesterday, led by Telecom, but sentiment was boosted by Baycorp's gains.

 The market was dragged down by Telecom, with investors concerned over the erratic performance of other markets in the region. Debt collection and information company Baycorp was the focus of the market after announcing a Singapore joint venture.

Close: 2,119.02 (- 16.2) Turnover: NZ$94.4 mln 



Baycorp helps ease decline