NZ shares stabilise after slide

Wed, 11 May 2022

New Zealand shares found some solid ground on Wednesday as some investors stepped in to buy stocks that had been brutally sold off over the past few days.The S&P/NZX 50 Index rose 3.7 points, or 0.03%, to 11,233.17. Turnover was $150 million.US stocks rebounded overnight led by the technology companies which were worst affected by the recent correction. The Nasdaq Composite climbed almost 1%, while the Dow Jones fell another 0.3%.BNZ interest rate strategist Nick Smyth said investors were still “very cautious” due to monetary po...

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