NZ sharemarket surges 1%
While the Australian market fell following the latest consumer price index (CPI) release, the S&P/NZX 50 Index kept climbing and closed at 11,835.02, up 118.57 points or 1.01%.
The index has increased 1.77% over the last two trading days and is 0.6% ahead for the year. There were 78 gainers and 57 decliners on the main board, with 30.63 million shares worth $120.99 changing hands.
The Australian May CPI rose 4% to its highest level this year compared with 3.6% in April and the 3.8% rate expected by economists.
The monthly CPI peaked in December 2022 at 8.4%. The S&P/ASX 200 Index fell as much as 1.1% but by 6pm NZ time was trading at 7,770 points, down 0.88%.
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)
