NZ shares extend strong start to 2020 as blue chips gain
The S&P/NZX 50 Index rose 62.35 points, or 0.5 percent, to 11,800.21. Within the index, 30 stocks rose, 15 fell and five were unchanged. Turnover was $122.3 million.
The New Zealand and Australian stock markets were the best performers across Asia, with the S&P/ASX 200 Index up 0.5 percent in afternoon trading. Stock markets have been buoyed this week by US-China trade tensions easing, which along with global monetary policy stimulus may have averted an economic downturn last year.
Among stocks with global exposure, A2 Milk rose 2.4 percent to $15.16 and its supplier Synlait Milk was up 0.8 percent, while logistics firm Mainfreight increased 1.5 percent to $43.40.
Shane Solly, a portfolio manager at Harbour Asset Management, said activity in China continues to be robust for A2.
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