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NZ shares bounce from omicron sell-off

Dan Brunskill
Tue, 30 Nov 2021

New Zealand's main share index rose as investors shook off the sense of panic over a potential dangerous covid variant and as the MSCI equity indices completed their quarterly rebalancing.The S&P/NZX 50 Index bounced 187 points, or 1.5%, to 12,718.91, recouping almost all the lost ground since Friday. Turnover was $897 million, due to the portfolio rebalancing.Jeffrey Halley, a market analyst at Oanda, said investors had stepped in to “buy the dip” overnight as some judged the reaction to omicron had been overdone. &ldq...

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