Local stocks feel the impact of global market jitters

Big falls on global stock markets on Friday have flowed through to the Kiwi market this morning.

The NZX is down over 100 points to 5,633 points, that's a significant fall of about two per cent.

On Friday US markets slid over three per cent in response to growing jitters about the health of the Chinese economy.

New figures on the state of the Chinese manufacturing sector have shown it to be weaker than expected.

The Chinese stock market has also continued to show weakness despite the massive effort by authorities to prop it up.

The Kiwi dollar has also dropped around half a cent this morning and is trading near 66 cents US.