NZ’s ‘defensive’ stock market helps NZX post 2009’s strongest month of trading
Dec. 1 (BusinessWire) – Trading volumes on NZX Ltd. markets revived in November, chalking up the strongest month in
2009, as the relatively defensive nature of New Zealand’s shares helped them outperform global peers.
Total trades climbed 12% to 46,524 last month from November 2008, while the daily average rose 7% to 2,215, NZX said in
a statement. The total value traded jumped 39% to $2.02 billion.
“The more defensive nature of the New Zealand market has really held us in good stead,” said Fiona Mackenzie, NZX head
of traded products. “There’s less exposure to financial and commodity stocks” with a greater weighting for
telecommunications and utilities, including Auckland International Airport, she said.
Trading on the NZSX market rose 8% by volume last month, with the value of trade climbing 43% to $1.9 billion. On the
NZAX market for smaller and start-up companies, total trades soared 182% to 3,852 and the value of trading jumped 246%
to $2.01 million.
On the NZDX Market for debt securities, total trades climbed 67% to 3,852 while the value of trade slipped 3% to $119
million.
Shares of NZX gained 0.1% to $7.85 today and have climbed 45% this year.
(BusinessWire)