NZ shares bounce back from Turkish sell-down, Summerset falls on mixed result

The S&P/NZX 50 index rose 26.9 points, or 0.3 percent, to 8,971.94. Within the index, 22 stocks gained, 20 fell and eight were unchanged. Turnover was $137 million.

Stocks across Asia were mixed as investors digest the impact of Turkey's economic woes, where a plunging lira increases the burden of foreign indebtedness which has funded the Middle Eastern nation's rapid growth in recent years. Japan's Topix was up 1.3 percent in afternoon trading, while Hong Kong's Hang Seng fell 0.9 percent.

Matt Goodson, managing director at Salt Funds Management, said Turkey's large foreign currency debt was a "very significant problem" and investors are wondering whether the government will impose capital controls. That uncertainty is causing ructions in other emerging markets and weighing on risk-sensitive assets, such as the kiwi dollar, which hit a two-and-a-half-year low this week.

Exporters were among today's leaders, with A2 up 3.6 percent to $11.16 and its key supplier Synlait Milk leading the benchmark higher, up 3.9 percent to $10.80. Fisher & Paykel Healthcare rose 1.7 percent to $14.79.