Mainfreight leads shares higher

The S&P/NZX 50 Index rose 89.76 points, or 0.7 percent, to 12,543.61. Within the index, 15 stocks fell, 28 rose and seven were unchanged. Turnover was $183.1 million.

The NZX was the only major share market in Asia to climb, with most global investors taking a more cautious approach as the likelihood of fast fiscal stimulus in the US once again faded.

Peter McIntyre, an investment advisor at Craigs Investment Partners, said the index’s upward streak was almost unprecedented in recent years — in November 2014, the NZX 50 made 12 consecutive gains.