MARKET CLOSE: NZ shares rise as coronavirus fears boost demand for yield plays

By Dan Brunskill | Tue, 11 Feb 2020


New Zealand shares rose as companies paying reliable dividends became more attractive in an environment where fears over the economic impact of the coronavirus outbreak have pushed down global bond yields. The S&P/NZX 50 Index gained 131.95 points, or 1.1 percent, to 11,834.54. Within the index, 30 stocks rose, 11 fell and nine were unchanged. Turnover was $181.4 million.The yield on the US 10-year Treasury has dropped about quarter of a percentage point so far this year as investors fret over the impact of the coronavirus outbreak on...