MARKET CLOSE: NZ shares rise as investor FOMO stokes demand for beat-up stocks

Thu, 16 Apr 2020

New Zealand shares rose for a third day as investors hoping to join the recent rally continued to buy into stocks impacted by the pandemic. Air New Zealand led the market higher. The S&P/NZX 50 Index advanced 63.25 points, or 0.6 percent, to 10,473.19. Within the index, 27 stocks rose, 20 fell and three were unchanged. Turnover was $346.9 million. The local benchmark hit its highest point since March 12 as investors switched from selling stocks at record low prices to buying back into those companies with hopes of a full market recovery....

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