MARKET CLOSE: New Zealand shares joins Asia rally; Air NZ plummets

Fri, 20 Mar 2020

New Zealand shares joined a rally across Asia, clawing back some of the week’s losses, despite Air New Zealand tumbling by a third after coming off a trading halt.The S&P/NZX50 rose 87.91 points, or 1 percent, to 9,201.64. Within the index, 27 stocks rose, 20 fell and 3 were unchanged. Turnover was almost double the average at $482.7 million with an extended adjustment session to accommodate the last trading day before the FTSE Russell's quarterly index review.Chris Smith, general manager at CMC Markets New Zealand, said US equity markets r...

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