Investors regain confidence in utilities
The S&P/NZX 50 Index rose 61.19 points, or 0.5 percent, to 11,737.86. Within the index, 23 stocks rose, 18 fell, and nine were unchanged. Turnover was $158.3 million.
New Zealand, Australian, and Vietnamese stock markets were the strongest across Asia as investors digested the impact of the formal signing of the first tranche of a US-China trade deal.
Local exporters were among the day’s gainers, with Fisher & Paykel Healthcare up 1.9 percent at $22.64, A2 Milk rising 1.7 percent to $14.80, and Fonterra Shareholders’ Fund units advancing 0.8 percent to $4.05.
Matt Goodson, managing director at Salt Funds Management, said the deal appeared somewhat underwhelming, and that a drop in soybean prices raised questions about Chinese commitments to buy more agricultural products.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
