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New Zealand stocks were down today, taking a lead from weak markets offshore.

Asian sharemarkets suffered after news that manufacturing in China had pulled back and comments from a high profile economist that the Chinese economy was struggling more than expected.

The NZX50 index was down 0.7 per cent or 25.34 points to 3449.30.

Craigs Investment Partners investment advisor Chris Timms said while there were pockets of strength on the bourse, most of the major trading companies were down.

"There have been a couple of indications the Chinese economy has slowed down - the last couple of days the data out of China hasn't been quite as good. That has taken a bit of a gloss off, but it has still been a pretty strong week in terms of the sharemarkets. People are having a breather - we've had such a good run on the markets [with the NZX at nine month highs] so there is just some profit taking on some stocks," Timms said.

"Fletcher Building is down 2.2 per cent to $6.80, that's major drag on our market. Fletcher Building is the most liquid stock in our market so if we get a bit of a sell-off overseas it seems to get sold off, and it's been quite sold off quite heavily today."

Finzsoft shares rose 2c or 5.3 per cent to 40c after restructuring its leadership team with the departure of chief executive Mark Sewell.

Under the move Andrew Holliday and Ian Wills will join the executive team as joint managing directors with immediate effect, and the CEO role will fall away. Holliday and Wills have been majority shareholders and directors of Finzsoft since they acquired 64% of the company in June 2007.

The leading decliner was investment holding company Guinness Peat Group, down 2.9 per cent to 50c. Jewellery retailer Michael Hill International fell 2.9 per cent to $1.02.

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NZ stocks down on offshore weakness