MARKET CLOSE Late rally as Bank of Japan acts

Tue, 22 Jan 2013

Jan 22 (BusinessDesk) – New Zealand stocks eased slightly until a late rally, in line with cautious sentiment across the Asian region ahead of a crucial Bank of Japan decision to loosen monetary policy, announced just before 5pm local time. The NZX50 Index rose 1.90 points, or 0.45 percent, to 4,187.082. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $95.001 million. “It seems to have been a bit of a pause for breath day across the region,” said Andrew Bascand, managing director and portfolio manager at Harb...

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