20 Feb 2020

NZX follows US stocks to record high after coronavirus stimulus hopes

12:57 pm on 20 February 2020

The New Zealand stock market has shot up in early trading to a record high, above the 12,000-point mark.

NZX signage on a building in Auckland, 2015.

(file photo) Photo: 123RF

The move was in line with movements on Wall Street, with the S&P 500 and Nasdaq also closing on record highs amid optimism that China would take more measures to prop up its economy in response to the coronavirus epidemic.

The local NZX Top 50 index was up about 0.25 percent to 12,008 points with support for the leading companies.

Auckland Airport was up nearly 2 percent this morning on its flat first-half profit result.

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