The New Zealand stock market is up 7% on Tuesday after governments around the world injected money into banks to shore up the financial system.
The NZX50 index rose 179 points to 2962 when it opened at 10am on Tuesday.
By midday, it was up 194 points, or 7%, to 2976.
The index closed down 22 points on Monday, or 0.82%, to 2782 on turnover of $75 million.
So far this year, the index is down about 27% due to the credit crunch and fears of recession.
In the currency markets: at 8.15am on Tuesday, the New Zealand dollar was trading at US60.71 cents, 89.15 Australian cents, 35.17 pence, 61.59 yen and 0.4494 euro. The Trade Weighted Index was at 60.27.
Australian market
The Australian share market rallied on Monday by more than 5%.
At 1615 AEDT, the S&P/ASX200 index was up 220 points, or 5.55%, at 4180.7, while the All Ordinaries index rose 202.4 points, or 5.14%, to 4141.9.
