28 Jul 2011

Jump in stock market trades

1:34 pm on 28 July 2011

Sharemarket trading rises by more than a quarter in the first six months of the year.

Trading on New Zealand's stock market jumped by more than a quarter in the first half of the year, compared to a year earlier.

The NZX says 344,334 trades were made on its main board from January to June, up 28% on the previous year.

It says the value of those trades jumped 29% percent to $14.3 billion.

A director of sharebroker Hamilton Hindin Greene, Grant Williamson, says investors are looking for higher return than offered by banks and a reasonable number of foreign investors are entering the local market.

Mr Williamson says renewed interest in Telecom has also driven a lot of the increase.