US-China détente hopes send Mainfreight up 5%

Mainfreight was trading at $55 in April. (Image: Supplied)

Mon, 12 May 2025

Hopes that a meeting between Chinese and American officials in Switzerland would produce a détente buoyed markets to start the week. The New Zealand benchmark index, the S&P/NZX 50, rose 0.57% to 12,676.75 points on Monday. Thirty-nine million shares changed hands, amounting to $100.7m in value traded. United States stock futures were up after US Treasury Secretary Scott Bessent said the US had made “substantial progress” over the first two days of trade talks in Geneva. At 5pm, S&P 500 futures were up...

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