Sharemarket rises on quarter-end buying

Total trades were worth $190.6m. (Image: Getty)

Fri, 29 Sep 2023

The New Zealand sharemarket clawed back lost ground on the back of end-of-quarter buying to finish with a strong gain.The S&P/NZX50 ended 118.40 points, or 1.06%, higher at 11,296.43, almost erasing Thursday’s late 1.25% decline. Total trades were worth $190.6m. There were 185 rises and 41 falls.The gain came at the end of a hard month for sharemarkets here and around the world after key US 10-year bonds hit 4.59% from just 4.11% at the start of the month.“When the discount rate goes up like that, then all other financial assets...

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