NZ shares buoyed by RBNZ optimism of brief coronavirus hit

The S&P/NZX 50 Index gained 63.70 points, or 0.5 percent, to 11,898.24. Within the index, 24 stocks rose, 21 fell and five were unchanged. Turnover was $193.8 million.

The Reserve Bank kept the official cash rate at 1 percent today, as expected, but changed its forecasts to remove the chance of future cuts with governor Adrian Orr talking down the long-term impact of the coronavirus...