Auckland house prices edged up for a second month in June in the face of fewer listings and intense demand among property buyers, according to Barfoot & Thompson.

Moody's Investors Service has given the Australian economy an upbeat assessment and says its currency's rating remains stable.

The Reserve Bank says raising interest rates now isn't the right policy response to an overheated housing market.

Markets across the region were further rattled yesterday as the Chinese stockmarket fell to its lowest level in four years.

Ongoing fallout from the US plan to easemoney printing policy and uncertainty in Asian markets are being blamed for a fall on the New Zealand share market.

Mighty River Power shares slumped to a new low of $2.23 this morning as the local stock exchange followed world markets down, reaching its lowest point in a month.

Wall Street has declined after Fed chairman Ben Bernanke said the central bank may begin tapering its US$85 billion-a-month bond-buying program later this year.