WELLINGTON, Oct. 15 (Xinhua) -- The New Zealand stock market closed 1.50 percent lower on Wednesday with the benchmark NZSX-50 down 44.33 points at 2904.64, and a turnover of 82.85 million NZ dollars (51.12 million U.S. dollars).

    Top stock Telecom was down 14 cents at 2.44 NZ dollars, while second stock Contact Energy fell 12 cents at 7.35 NZ dollars. No. 3 stock Fletcher Building fell 12 cent at 6.23 NZ dollars.