NZX50 climbs 4.1% in week; yield demand reigns

The benchmark index was up 112.32 points, or 1 percent, at 11,218.99. Within the index, 39 stocks rose, six fell, and five were unchanged. Turnover was a healthy $194.8 million, more than the $159 million daily average during August.

Stock markets were buoyed yesterday by news that the US and China will resume negotiations in their protracted trade war, which has threatened to derail global growth. The prospect of shrinking trade and a worldwide recession has encouraged central banks to cut interest rates, prompting investors to turn to equity markets to seek real returns.

"There's some renewed hope regarding the China-US trade tensions, but given the false dawns we've had there, there's every chance it turns on a dime again," said Matt Goodson, managing director at Salt Funds Management.

Property stocks and power companies attracted heavy trading. Meridian Energy, Contact Energy, Mercury NZ, Goodman Property Trust and Genesis Energy are leading the benchmark index higher this year with gains of up to 58 percent.