NZ shares hit record as prospect of US-China trade deal buoys Asia; A2 gains

The S&P/NZX 50 Index increased 61.81 points, or 0.7 percent, to 9,413.49, touching a record 9,420.14 during the session. Within the index, 34 stocks rose, 13 fell, and three were unchanged. Turnover was $135 million.

Stocks across Asia were stronger as speculation that the US and China were close to a deal buoyed optimism among investors. Australia's S&P/ASX 200 index was up 0.5 percent in late trading, while Hong Kong's Hang Seng gained 1.2 percent and Singapore's Straits Times Index rose 0.7 percent.

"People are going to be focused on the international drivers and the big focus is on the trade result," said Greg Smith, head of research at Fat Prophets. "The big fear for investors is if that fails, because China is our biggest customer."

A2 Milk led the benchmark index, up 3.2 percent at $14.75, on an average volume of 919,000. The milk marketing firm was among the stand-out performers in the latest company earnings season, underpinned by its ability to keep boosting sales of infant formula into China. Supplier Synlait Milk rose 1.8 percent to $10.59, with 404,000 shares changing hands, about four times its 90-day average.