New Delhi: New Zealands World Test Championship final hopes were dealt a blow as the ICC deducted WTC points from both England and the Blackcaps for slow over-rates during the first Test in Christchurch. While England have already been eliminated from World Test Championship qualification New Zealand remains in contention for their second final. However the ICC has fined both teams 15% of their match fees and deducted three WTC points each for slow over-rates in the first Test in Christchurch. The point deduction has dropped New Zealand from joint fourth to fifth place in the World Test Championship standings reducing their percentage from 50% to 47.92%. With this setback the Blackcaps can still reach a maximum of 55.36% if they win their remaining two home Tests against England. Both teams were found three overs short of the allotted time after allowances with captains Tom Latham and Ben Stokes pleading guilty and accepting the sanctions imposed. The Blackcaps lost the opening Test by 8 wickets setting England a modest target of 104 which the visitors chased down in a record 12.4 overs. New Zealands chances were undermined by several dropped catches in the first innings after reducing England to 71/4 following their own total of 348. The missed chances allowed England to recover and post a formidable total of 499 with Harry Brook scoring 171. In response New Zealand were bowled out for 254 in their second innings sealing an 8-wicket loss. The Blackcaps were in a strong position to qualify for the World Test Championship final at Lords after their historic 3-0 series sweep over India last month which brought their PCT to 54.54. However following their loss to England and the subsequent point deduction their PCT has dropped to 47.92. The Blackcaps and England will meet in the second Test at Basin Reserve Wellington starting December 6 with the series finale scheduled for Seddon Park Hamilton from December 14.