Sharemarket follow Asian markets higher on renewed hopes for China-US resolution

The S&P/NZX 50 index rose 19.9 points, or 0.2 percent, to 9077.71. Within the index, 28 stocks rose, eight were unchanged and 14 fell. Turnover was $125.3 million.

Asian stocks lifted on renewed optimism after the Wall Street Journal reported U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30. The gains were tempered when a Treasury spokesman working with the trade team told CNBC that talks are "nowhere near completion."

However, Australia's S&P/ASX was up 0.5 percent while Japan's Topix was up 1.1 percent and Hong Kong's Hang Seng was up 0.9 percent.

Forsyth Barr broker Suzanne Kinnaird suggested any gains are likely to be fleeting "until we see some official news." Overall, she said New Zealand trading is still relatively quiet, with people only just now heading back to work after the summer break.