MARKET CLOSE: NZ shares join global rally on extra US Fed stimulus

Tue, 16 Jun 2020

New Zealand shares joined a global rally as the US Federal Reserve's expanded bond buying programme fed investor optimism that central banks and legislators are doing everything they can to support the world economy. The S&P/NZX 50 Index advanced 89.74 points, or 0.8 percent, to 10,953.85. Within the index, 34 stocks rose, 11 rose, and five were unchanged. Turnover was $150 million. Asian stock markets followed Wall Street higher as investors found confidence in the Fed's plan to buy corporate bonds in addition to the exchange-traded fun...

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