MARKET CLOSE: NZ shares join Asia rally on trade optimism; Fonterra loss dominates headlines

Thu, 13 Sep 2018

By Paul McBeth Sept. 13 (BusinessDesk) - New Zealand shares rose, joining a regional rally on optimism over US-China trade relations. Fonterra Cooperative Group's first annual loss dominated local headlines. The S&P/NZX 50 index gained 53.42 points, or 0.6 percent, to 9,248.99. Within the index, 30 stocks rose, 15 fell and five were unchanged. Turnover was $153.1 million. Stocks across Asia rose on reports US Treasury Secretary Steven Mnuchin extended an olive branch to his counterparts in China, inviting them to ministerial level tr...

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