Dormant investors return
A stellar stockmarket performance has lured some dormant investors back to the markets, pushing up the number of share trades by over 20 per cent last month.
Monday, April 11th 2005, 7:59AM
by The Landlord
Latest New Zealand Exchange figures showed there were 2780 average daily trades last month, up 21 per cent on the corresponding time last year despite fewer trading days compared with last year because of Easter.The total number of trades was up 10 per cent to 58,382. The total value of shares traded was up 17 per cent to $2.5 billion.
NZX chief executive Mark Weldon said a 21 per cent increase in trades was "a great number and if I was sitting in Chicago or Houston right now I'd be yelling about what a great number it was".
He said the figures showed that more New Zealanders were participating in the sharemarket.
Feedback from brokers suggested the growth was down to existing clients dealing more and "dormant" clients coming back to the market, he said.
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