Markets in the Asia-Pacific region bounced back on Tuesday, as investors welcomed fresh moves to deal with the worldwide financial crisis and Wall Street posted its biggest gain to date.
In New Zealand, the benchmark NZX 50 closed up 166 points, or 5.9%, to 2949 on turnover of $97 million.
Top stocks Telecom was up 10 cents to $2.58, Contact Energy rose 15c to $7.47, while Fletcher Building jumped 50c to $6.35.
Sky City Entertainment Group was up 19c to $3.10.
ANZ National was up $2.41 to $20.71 and Westpac rose $1.70 to $25.70.
At 5.20pm on Tuesday, the New Zealand dollar was trading at at 62.21 US cents, 87.77 Australian, 35.48 pence, 63.65 yen and 0.4548 euro. The Trade Weighted Index stood at 61.05.
The Australian share market ended almost 4% higher after the biggest point gain ever on Wall Street and news of the federal government's $A10.4 billion economic stimulus package. Wall Street shares rocketed 11% on Monday.
The benchmark S&P/ASX200 index was up 154.5 points, or 3.7%, at 4,335.2, while the broader All Ordinaries index gained 169.6 points, or 4.09%, to 4,311.5.
On the Sydney Futures Exchange at 1615 AEDT, the December share price index futures contract rose 187 points to 4,381 on volume of 44,637 contracts.
At 1630 AEDT, spot gold was trading in Sydney at $US842 an ounce, down $US22.35 on Monday's close of $US864.35.
Japan's Nikkei stock index posted its biggest ever gain on Tuesday, skyrocketing more than 14% as investors flocked back to the market on hopes of an easing of the global financial crisis.
The surge came as world governments threw lifelines to ailing banks, while Japan unveiled measures aimed at stabilising its shaky financial markets, including a relaxation of restrictions on corporate share buybacks.
The Nikkei soared 1,171.14 points, or 14.15%, to end at 9,447.57, its largest ever percentage gain.
