NZ shares rise in late rally as blue chips gain
The S&P/NZX 50 Index increased 26.97 points, or 0.3 percent, to 10,475.98. Within the index, 16 stocks rose, 31 fell, and three were unchanged. Turnover was $123.7 million.
A gloomy lead from Wall Street on Friday prompted the local market to fall as much as 1.5 percent in morning trading, with investors fretting over the prospect of the US and China resuming their trade war.
That sombre tone hung over most of Asia, with most major markets down in afternoon trading. Australia was one of the few to buck the trend, with the S&P/ASX 200 Index up 1.5 percent in afternoon trading.
The local market started its rally following the announcement there were no new covid-19 cases today. That's the first day without new infections since lockdown began more than a month ago.
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