MARKET CLOSE: NZ shares rise as low US rates boost demand for yield

Dan Brunskill
Thu, 30 Jul 2020

New Zealand stocks climbed as the US Federal Reserve affirmed its near-zero interest rate policy and continuing to make stocks paying reliable dividends attractive to investors. The S&P/NZX 50 Index advanced 92.58 points, or 0.8 percent, to 11,692.02. Within the index, 26 stocks rose, 17 fell, and seven were unchanged. Turnover was $107.6 million. Investors digested positively the Fed's reiteration of its pledge to keep rates low for as long as necessary, holding the federal funds rate in a zero-to-0.25 percent target range. The Fed also...

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Markets

MARKET CLOSE: Reserve Bank measures limit virus-driven stock slide

Dan Brunskill | Wed, 12 Aug 2020

Reserve Bank stimulus helped soften a fall by New Zealand equities as investors reacted to a covid-19 flare-up which has put Auckland back into a level-3 lockdown. The S&P/NZX 50 Index declined 153...

PETER GRIFFIN: Tracing tech still running to catch up

Peter Griffin | Wed, 12 Aug 2020

We should have gone back into our state of covid-19 lockdown with an effective digital contact tracing technology in place.

Economy

UPDATE: RBNZ revs up the printing press, doesn't rule out negative rates

Rebecca Howard | Wed, 12 Aug 2020

(Updates to add comment from RBNZ governor and assistant governor) The Reserve Bank kept the official cash rate at a record low 0.25 percent but expanded its large-scale asset purchase programme t...

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