NZX trading activity increases in November as equities touch fresh highs
The total number of trades jumped 7.7% to 127,393 in November from the same month a year earlier.
The volume and value of trading on New Zealand's stock exchange increased last month as the benchmark S&P/NZX 50 Index touched fresh highs.
The total number of trades jumped 7.7% to 127,393 in November from the same month a year earlier, while the value increased 1.1% to $3.3 billion, Wellington-based NZX said in its monthly shareholder metrics. Daily average trades advanced 2.6% to 6,066, while the daily average value slipped 3.7% to $156 million.
The NZX benchmark index climbed to record levels last month as demand for equities increased in a low interest rate environment. The Reserve Bank has cut interest rates three times so far this year and 13 of 14 economists polled by Reuters expect the bank to lower the official cash rate by 25 basis points to 2.5% at its upcoming meeting on December 10.
The number of equity trades increased 7.5% to 124,411 in November from the year earlier month, while the value rose 1.4% to $3.2 billion. The value of NZX's equity market climbed 13% to $106.6 billion in November from the year earlier month, or 44.3% of gross domestic product. The number of listed equity securities slipped 1.2% to 171.
The NZX debt market was bolstered in November after the New Zealand Local Government Funding Agency listed all six series of its bonds on the market, representing a total principal amount of $5.56 billion.
The value of NZX's debt market rose 45% to $19 billion, or 7.9% of GDP. The number of listed debt securities increased 6.1% to 87. The number of debt market trades rose 20% to 2982 while the value slipped 4.7% to $125 million.
Shares of NZX last traded at $1.01 and have declined 14% so far this year.
(BusinessDesk)
Tina Morrison
Thu, 03 Dec 2015
Thu, 03 Dec 2015
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NZX trading activity increases in November as equities touch fresh highs
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