NZ shares buck global sell-off

The S&P/NZX 50 Index rose 70.12 points, or 0.6 percent, to 11,609.22. Within the index, 24 stocks rose, 21 fell and five were unchanged. Turnover was $145.6 million.

Global markets were weaker as concern grew climbing covid-19 cases in the United States and Europe may lead to tighter restrictions.

European bourses fell more than 3 percent, Wall Street dropped approximately 1.5 percent and Asian markets were down about half a percent.

“September is proving to be a month to forget for equity investors, with some markets nearing correction territory,” said ASB economist, Mark Smith, referring to a 10 percent decline from a peak.