NZ shares outperform as omicron looms over Asia

The S&P/NZX 50 Index rose 48.51 points, or 0.4%, to 12,766.45. Turnover was relatively quiet at $116.8 million.

The local market outperformed Asia, with US stock futures pointing to a weak start of the week for Wall Street as some European policymakers take steps to clamp down on the spread of omicron with new lockdown measures.

“Futures don’t look good in the US – they’re showing a negative session – but we’re the only exception across the Asia Pacific today,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.

“There’s potential omicron’s going to be here for a while.”