RTTNews - Strong opens are expected Tuesday for New Zealand and Australia stocks, coming off another positive performance by Wall Street. U.S. stocks rose on improved manufacturing, housing and banking data.
New Zealand's market moved modestly higher in a lightly traded session on Monday. The benchmark NZX-50 index advanced 31.6 points or 1.05 percent to 3,047.9.
The New Zealand Exchange posted trading volume of 36.1 million shares valued at NZ$78.5 million.
Advancing issues outnumbered decliners 60 to 27 with 37 unchanged.
The list of most actively traded issues includes AMP NZ Office Trust, which was down NZ$0.01, Fletcher Building was up .22, Fisher & Paykel Appliances was up a penny, Kiwi Income Properties was down one cent, Nuplex was up .04, Ryman Healthcare was down .01, SkyCity Entertainment was up .04 and Telecom Corp of NZ was up a nickel.
Among the Australia-NZ dual-listed stocks, Telstra was down one cent, Westpac Bank was up .41, Australia and NZ Bank was up .47, APN News & Media was up .04, AMP was down .03 and Lion Nathan was unchanged.
Across the Tasman, a strong performance by banking stocks sent Australia's market higher.
The benchmark S&P/ASX200 index posted a gain of 19.4 points or 0.5 percent at 4,263.4 while the broader All Ordinaries Index was up 21 points or 0.5 percent to 4,270.5.
Market turnover was 2.08 billion shares valued at A$4.01 billion.
Advancers outpaced decliners 599 to 426 with 349 closing unchanged.
The banking sector moved higher after Goldman Sachs JBWere issued an upgrade for the Big 4 bankers. Among them, Australia and NZ Bank closed up A$0.47, Commonwealth Bank of Australia was up .85, National Australia Bank was up .82 and Westpac was up .41. Investment bank Macquarie Group was up .12.
In the resources sector, the big miners were mixed. Global leader BHP Billiton was up .22 while rival Rio Tinto was down .11. Among the junior miners, Fortescue Metals was up .06 and OZ Minerals was up .03.
For the coal stocks, Centennial Coal was up a penny, Felix Resources and Macarthur Coal dropped .18.
Among the oil stocks, Woodside Petroleum was down .80, Oil Search was down one cent and Santos was up .18.
In the gold sector, Newmont Mining was up .16, Newcrest Mining was unchanged and Lihir Gold was down .03.
Among the retailers, Woolworths was down .45, Wesfarmers was down .36, David Jones was down .06, Harvey Norman declined two cents and JB Hi-Fi was up two cents.
Overseas, better than expected manufacturing data helped send U.S. stocks higher on Monday. About 40 minutes before the close, the Dow Jones Industrial Average was up 112.76 points or 1.23 percent at 9,288.68, the Nasdaq Composite index was ahead by 26.41 points or 1.33 percent at 2.004.77 and the Nasdaq Composite index was up 14.46 points or 1.46 percent at 1.001.94.
Markets were mixed in the Asia/Pacific region on Monday.
In Japan, the Nikkei 225 Average closed with a loss of 4.36 points or 0.04 percent at 10,352.47.
Hong Kong's Hang Seng index was up 233.93 points or 1.14 percent at 20,807.26.
The Shanghai Composite index in China was up 50.53 points or 1.48 percent at 3,462.59.
In India, the BSE 30 index was up 253.92 points or 1.62 percent at 15,924.23.
Indonesia's Jakarta Composite index rose 15.56 points or 0.67 percent to 2.338.80.
The KOSPI/Seoul Composite index in South Korea was up 7.69 points or 0.49 percent at 1,564.98.
The Taiwan Weighted Index was down 21.00 points or 0.30 percent at 7.056.71.
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