After a few downers NZ shares get an upper
The S&P/NZX 50 Index rose 92.59 points, or 0.8 percent, to 11,604.08. Within the index, 27 stocks rose, 19 fell and four were unchanged. Turnover was $180.7 million.
A lift from Wall Street set the tone throughout Asia after Chinese stimulus helped allay fears about the economic impact of the coronavirus outbreak.
The People's Bank of China injected 1.7 trillion yuan into the financial system via reverse repos on Monday and Tuesday spurring a rally in the Nasdaq, S&P 500 and Dow Jones Industrial Average, with all three up more than 1.4 percent overnight.
“I look through Asia today and it is a sea of green," said Peter McIntyre, an investment adviser at Craigs Investment Partners.
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