NZ Sharemarket Rises as Weak Kiwi Fuels Export Gains

The New Zealand sharemarket has continued its strong run, driven by export companies and a low kiwi dollar. The S&P/NZX 50 Index traded solidly in the afternoon and closed at 13,821.2, up 82.06 points or 0.6%.

This is despite reaching a morning low of 13,650.4. There were 78 gainers on the market.

The New Zealand dollar has been in decline, and is currently at its lowest level since 2011, according to the trade-weighted index.