NZX joins Asia-wide rally; Market led higher by growth stocks Pushpay, A2
The S&P/NZX 50 index rose 40.14, or 0.5 percent, to 8,713.96. Within the index, 24 stocks gained, 15 fell, and 11 were unchanged. Turnover was $130.2 million.
Stocks across Asia followed Wall Street higher as investors were buoyed by upbeat comments from White House economic adviser Larry Kudlow that the US could reach a deal with China. The two nations have been embroiled in an 18-month trade dispute which has weighed on global economic growth.
Growth stocks have been hit hardest by the trade tensions, coming at the same time as rising US interest rates have dulled the allure of stocks.
Pushpay, which derives most of its income in the US, rose 4.9 percent to $3.22 on average volumes and extended its recovery from a 12-month low last week. A2, which has benefited from strong Chinese demand for its products, gained 3.7 percent to $10.78.
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