Investors bet on further central bank stimulus and low interest rates

The S&P/NZX 50 Index gained 87.52 points, or 0.8 percent, to 11,743.73. Within the index, 27 stocks rose, 20 fell, and three were unchanged. Turnover was $129 million.

Share markets across Asia started the week with a “positive mindset” after a front-page editorial in the China Securities Journal said “fostering a healthy bull market” was important to the Chinese economy, ASB economist Mark Smith said.

The state-sanctioned editorial triggered strong gains for Chinese equities yesterday and today, and NZ's benchmark joined the regional rise.  

Peter McIntyre, an investment adviser at Craigs Investment Partners, said the steady upwards march was due to low interest rates and financial stimulus from central banks supporting equities and their promise of higher returns to investors.