5 Sep 2011

Financial turmoil increases NZ stock trades

12:47 pm on 5 September 2011

The turmoil on global equity markets has boosted the trading of stocks.

The stock market operator, NZX, says trades doubled to 86,000 last month compared with the same period a year earlier, while the total value rose by about half to $51 million.

On a daily basis, trades nearly doubled to more than 3700 and the value stood at $115 million, half again as much as August last year.

The stock market lost over $3 billion at one stage in early August, because panicking investors worried the global recovery was stalling, and has still to recover that lost ground.