Sharemarket cracks 10,000 mark
The benchmark index increased 2.3 percent to 10,031.66, the highest close since March 12. Within the index, 29 stocks rose, 16 fell, and five were unchanged. Turnover was $314 million.
Investors welcomed signs of the pandemic's spread slowing down, with China's Wuhan ending a two-month lockdown, and Austria announcing plans to reopen the country on April 14 after it was able to get on top of the virus faster than other nations.
The number of new cases of covid-19 in New Zealand rose to 1,210, with 50 new cases reported today. That's a drop from both the 54 new cases yesterday and the 67 reported on Monday. US newspaper, the Washington Post ran a story praising New Zealand’s own quick response to the crisis saying the country was not just flattening the curve but “squashing it”.
Stuart Williams, head of equities at Nikko Asset Management, said investors welcomed this type of positive news to weigh against negative economic forecasts and potential job losses.
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