NZ shares climb in light trading

The S&P/NZX 50 Index rose 16 points, or 0.1%, to 12,806.90. Turnover was $72 million, well below average trading volumes.

Two technology stocks, which have been under pressure lately, led the gains today: Travel booking software company Serko and cinema software firm Vista Group were each up 2.3% at $6.15 and $2.22, respectively.

Greg Smith, head of retail at Devon Funds, said concern from the United States about climbing interest rates was acting as a headwind and affecting growth stocks in particular.

He said it was possible the NZX 50 will outperform overseas markets this year as New Zealand has already begun tightening monetary policy ahead of other central banks.