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New Zealand shares index drew back from record highs on Friday hit in the previous session.
The benchmark S&P/NZX 50 fell 0.3 per cent, its biggest intraday percentage drop since mid-December.
The index is, however, headed for an eighth straight weekly gain, reports Reuters.
Telecom stocks dominated the losses, with Spark New Zealand Ltd slipping 1.6 per cent to a four-week trough.