WELLINGTON, Jan 26 (Reuters) - New Zealand shares were slightly lower on Tuesday after Wall Street sold off, pulled lower by further weakness in oil prices.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was down 0.3 percent, or 17 points, at 6,157.9.
The S&P/ASX 200 index .AXJO was closed for Australia Day.
Wellington-based First NZ Capital Broker Philip Hunter said the weaker tone in offshore markets coupled with a holiday in Australia means "it will be very much a day of treading water in New Zealand as investors await developments offshore."
Leading the slide was A2 Milk ATM.NZ , down 2.7 percent and Trade Me TME.NZ , down 2.6 percent. In both cases, volumes were extremely light. In the other direction, Coats Group COA.NZ was up 2.1 percent.
Hunter said with no local drivers the market may just continue to drift down over the session.
"We are just going to see a fairly quiet day, albeit it a bit weaker," said Hunter.