NZ shares nudge higher on last full day's trading for the year
The S&P/NZX 50 increased 8.97 points, or 0.1 percent, to 8,783.49, its third straight gain. Within the index, 33 stocks gained, 11 fell and six were unchanged. Turnover was a modest $45.8 million.
Stock markets across Asia were broadly stronger after a late rally on a volatile Wall Street, with Australia's S&P/ASX 200 index rising 0.5 percent in afternoon trading, Singapore's Straits-Times index up 0.7 percent, and South Korea's Kospi 200 index up 0.6 percent.
The domestic market's gain was more sedate, reflecting the holiday period, but also the NZX50's 5 percent increase so far this year is second only to India's Sensex index on the Bombay Stock Exchange among the benchmark measures across the Asia Pacific tracked by Reuters.
"At the moment it's just trying to battle through to the New Year," said Grant Davies, an investment adviser at Hamilton Hindin Greene in Christchurch. "People are waiting for the dust to settle."
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