Shares march higher as low rates keep yield attractive

The S&P/NZX 50 Index rose 98.54 points, or 0.9 percent, to 11,106.67. Within the index, 33 stocks rose, 10 fell, and seven were unchanged. Turnover was $155.4 million.

The local market joined a global rally as investors were buoyed by news that US and Chinese officials will return to the negotiating table. Their trade war threatens to derail the international economy and has encouraged central banks to cut interest rates, which boosts the attraction of stocks.

Vital Healthcare Property Trust led the market higher, up 3 percent at $2.75 on a volume of 282,000 units, compared to a 90-day average of 263,800.

Genesis Energy rose 3 percent to $3.65, Goodman Property Trust was up 1.8 percent at $2.215 on a volume of 1.4 million units, and Meridian Energy increased 3 percent to $5.54 with 1.8 million shares changing hands.