NZ shares outperform weaker global markets
The S&P/NZX 50 Index rose 25.72 points, or 0.2 percent, to 10,882.41, taking the monthly gain to 3.3 percent. Within the index, 25 stocks rose, 22 fell, and three remained unchanged.
Turnover was $867.9 million with volumes boosted by the monthly reweighting of the MSCI Equity Indices. Fletcher Building, up 2 percent at $3.51, saw 82.7 million shares traded.
Stocks on Wall Street were weaker overnight after US President Donald Trump said he will hold a news conference to announce his response to China’s extension of control over Hong Kong.
Tensions between the US and China are becoming more animated as election polling in the US was tightening, said Shane Solly, a portfolio manager at Harbour Asset Management.
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