NZ shares spring into September on hopes of economic revival

(Image: Getty)

Mon, 02 Sep 2024

New Zealand shares rose for a second day as it started the new month on renewed optimism that lower interest rates will revive the moribund economy.The S&P/NZX 50 Index advanced 107.84 points, or 0.9%, to 12,555.52. Across the main board, 93 stocks rose, 45 fell, and 41 were unchanged. Turnover was $114.3 million, with eight companies trading on volumes of more than a million shares as reweightings of MSCI indices and KiwiSaver fund flows stoked some activity. A sharp reversal of business confidence and the Reserve Bank of NZ’s (...

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