NZ shares edge higher as US-China trade talks drag on
The S&P/NZX 50 Index increased 18.41 points, or 0.2 percent, to 11,276.20. Within the index, 21 stocks rose, 18 fell and 11 were unchanged. Turnover was $126.1 million.
US tariffs are set to kick in from Dec. 15, and investors have been reacting to headlines on the minutiae of what would be the first phase of a wider trade deal to end a protracted dispute between the world’s two biggest economies.
Stock markets were moderately stronger across Asia, with Australia’s S&P/ASX 200 Index up 0.3 percent in afternoon trading, while Hong Kong’s Hang Seng increased 0.7 percent and Singapore’s Straits Times Index was up 0.1 percent.
“The US dollar continued its recent slide, and gold rose, suggesting not all investors are convinced that a trade deal will arrive before the 15 December deadline for increased US tariffs on Chinese goods,” Michael McCarthy, chief market strategist at CMC Markets, said in a note.
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