MARKET CLOSE: Shares rise, dollar softens as negative cash rate predicted

Tue, 18 Aug 2020

New Zealand shares climbed for a second day as investors continued buying dividend-paying stocks and as another bank forecast negative interest rates here within a year. The S&P/NZX 50 Index rose 176.18 points, or 1.5 percent, to 11,849.13. Within the index, 41 stocks rose, five fell and four were unchanged. Turnover was $217.8 million. Record-low interest rates have been fuelling a rotation out of cash and into the share market with investors seeing it as one of the few options for a return on capital. “The Reserve Bank has driven int...

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