NZ sharemarket rises as US debt issues sorted

The passage of laws sorting out the US debt ceiling issue perked up local investors. (Image: Getty)

Thu, 01 Jun 2023

A re-energised New Zealand sharemarket staged a strong rebound, driven by the two biggest stocks, as the deal on United States’ debt ceiling was sorted.The House of Representatives passed a bill to suspend the country’s US$31.4 trillion (NZ$52.2t) debt limit, through to January 2025, after the United States markets had closed.Instead, the Asia- Pacific markets surged. After strong afternoon trading, the S&P/NZX 50 Index closed at 11,916.13, up 103.12 points or 0.87%.There were 46 gainers and 79 decliners on the main board with 3...

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