MARKET CLOSE: NZ shares surge on optimism over tech sector, covid vaccine

Tue, 21 Jul 2020

New Zealand shares jumped on growing optimism among investors that US tech companies will deliver strong earnings in the current earnings season and that potential covid-19 vaccine trials are showing promise. The S&P/NZX 50 Index gained 183.57 points, or 1.6 percent, to 11,736.73. Within the index, 27 stocks rose, 15 fell, and eight were unchanged. Turnover was $153.1 million. Asian markets took their cue from the tech-heavy Nasdaq Composite Index hitting a new record as vaccine data was released and investors looked towards US earnings...

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