NZ shares up as Fed meeting looms

The S&P/NZX 50 Index rose 57 points, or 0.5%, to 12,185.65. Turnover was $120 million.

Some of the stocks worst affected by the recent sell-off began to recover. Vista Group recouped 3.5% to $2.10, and Sky Network Television rose 2.6% to $2.40.

Pacific Edge rose 2.7% to $1.16 and Kathmandu Holdings climbed 2.3% to $1.36 – all are considered higher risk stocks and have fallen this year.

Much of the market’s anxiety has come from US investors who have begun to worry the US Federal Reserve will hike interest rates much faster than previously imagined.