NZX cash trading gains for third consecutive month
The volume of cash market trading rose 9.9% to 135,630 in October.
Cash trading on the NZX increased for a third straight month in October, as investors looked for returns in a low interest rate environment.
The volume of cash market trading rose 9.9% to 135,630 in October from the same month a year earlier, Wellington-based NZX says.
Daily average trades increased 15% to 6782, while the daily average value dropped 24% to $157 million.
The volume of equity transactions in October increased 9.6% to 132,513 and the value of those trades dropped 30% to $3 billion. The benchmark S&P/NZX 50 Index last month fell from record highs reached in September, falling about 5.5%.
Meanwhile, the volume of debt transactions jumped 28% to 3117 as the value traded soared 64% to $164 million.
NZX's debt market has a renewed vigour this year as low interest rates have made bonds an attractive funding option for companies.
The number of debt securities on the market jumped 23% to 101 compared with the year earlier, while the 298 listed securities across all asset classes was up 7.6%.
Shares of NZX last traded at $1.01 and have slid 3.7% this year.
(BusinessDesk)
Tina Morrison
Thu, 03 Nov 2016
Thu, 03 Nov 2016
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NZX cash trading gains for third consecutive month
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