Sharemarket hits record as investors eye US-China trade deal
The NZX50 rose as high as 11,693.46 and ended the day at 11,676.67, up 51.54 points, or 0.4 percent. Within the index, 28 stocks rose, 16 fell, and six were unchanged. Turnover was $181.3 million.
China’s Vice Premier Liu He is scheduled to sign the first stage of the trade agreement in Washington overnight, although US Treasury Secretary Steven Mnuchin said the US will keep tariffs in place until the second tranche is signed.
“The clearing of trade clouds is a key factor in the recent stronger performances in risk assets,” CMC chief markets strategist Michael McCarthy said in a note. “However, event risk over the next 24 hours is significant, and there was little appetite to push shares and industrial commodity prices any higher.”
New Zealand, Australian and Vietnamese markets were the only ones in positive territory across Asia as investors weighed up Mnuchin’s comments.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
