New Zealand Stocks Gyrate as Conservative Nationals Ousted
- Labour’s Ardern set to lead after winning NZ First support
- Deal ‘light on detail’, market ‘nervous’: First NZ’s Norling
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New Zealand stocks swung as investors reacted to the first change in the nation’s government in nearly 10 years.
The S&P/NZX 50 Gross Index closed up less than 0.1 percent, at 8,131.07, after falling as much as 1.2 percent. The benchmark set a fresh record and extended its winning streak to 14 days, the longest since 2011. The local dollar extended losses against the greenback.