NZ shares bounce after dire February

The S&P/NZX 50 Index rose 74.52 points, or 0.6%, to 12,301.81. Within the index, 28 stocks rose, 17 fell and five were unchanged. Turnover was $133.5 million.

Investors are hoping for better returns in the month of March after the benchmark index dropped 7% last month.

“February ended on a volatile note, with global share markets falling across the board last week as investors were spooked by sharp rises in bond yields,” said Mark Lister, head of private wealth research at Craigs Investment Partners.

The equity market had a small bounce back today as interest rates walked back from record highs over the weekend, although remain much higher than at the start of the year.