NZX50 hits record as Asia recovers from virus fears
The benchmark index advanced 84.54 points, or 0.7 percent, to 11,889.68. Within the index, 24 stocks rose, 23 fell, and three were unchanged. Turnover was $185.9 million.
“We are performing well, as is most of Asia today, and are seeing a number of stocks hold up quite nicely on a reasonable trading volume,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.
Stocks markets across Asia bounced back from yesterday's sell off, when investors fretted over the threat of the coronavirus outbreak and whether it would sap international travel during the Lunar New Year. Hong Kong's Hang Seng was up 0.8 percent in afternoon trading and Australia's S&P/ASX 200 Index rose 1 percent.
A2 Milk lead the local market higher, with an increase of 4.1 percent to $16.04 on a volume of 805,000 shares.
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