Easing Covid 19 restrictions buoy market

The S&P/NZX 50 Index advanced 138.94 points, or 1.3 percent, to 10,914.74. Within the index, 33 stocks rose, 16 fell and one was unchanged. Turnover was $136.6 million.

Investor sentiment was buoyed as more of the global economy opened up, clearing the way for a recovery from the economic damage left behind by the covid-19 outbreak and international lockdowns.

Today, Japan ended its nationwide state of emergency after new coronavirus cases slowed. The news pushed Japan's Nikkei 225 up 2.2 percent in afternoon trading, leading a rally across Asia. Local lockdown restrictions may be eased to the lowest alert level within the next four weeks.

“Economies opening up and getting back to normal business has really given markets a kicker today,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.