Trading on the New Zealand stockmarket continues to pick up.
NZX statistics show almost 96,000 trades were made in May, almost a third more than in the same month a year earlier.
But the value of trades slipped by more than 13% in the same period, to $2.5 billion.
The market capitalisation stood at $58.4 billion at the end of May, 1.8% less than a year earlier.