NZ sharemarket rises as US debt issues sorted

The House of Representatives passed a bill to suspend the country’s US$31.4 trillion (NZ$52.2t) debt limit, through to January 2025, after the United States markets had closed.

Instead, the Asia- Pacific markets surged. After strong afternoon trading, the S&P/NZX 50 Index closed at 11,916.13, up 103.12 points or 0.87%.

There were 46 gainers and 79 decliners on the main board with 33.13 million shares worth $110.6m. Across the Tasman, the S&P/ASX 200 Index was up 0.27% to 7110.8 points at 6pm NZ time.

The Hong Kong Hang Seng Index had risen 0.62% to 18,348.11 points; the Shanghai Composite gained 0.34% to 3215.37; and the Japanese Nikkei 225 Index was up 0.85% to 31,150.57 and is trading at a 33-year high.