New Zealand stocks rise as bargain hunters emerge, local news remains scant

Mon, 11 Jan 2016

By Sophie Boot Jan. 12 (BusinessDesk) - New Zealand shares rose for the first time this year after a five-day slide that attracted bargain hunters in a market with little local corporate news to drive prices. At 11.15am, the S&P/NZX 50 Index was up 24.91 points, or 0.4 percent, to 6127.74, from yesterday's close of 6,102.82. Turnover was about $21.3 million. The index had fallen 3.5 percent so far this year at yesterday's close, declining every day after reaching an all-time high on Dec. 31. The losses have been attributed to global ne...

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