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NZX share trading almost doubles in January

Monday 5th February 2018

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New Zealand share trading surged on the NZX in January and values also pushed higher as low interest rates continue to fuel interest in the market given limited returns for debt securities and bank deposits. 

Total equity trades on the NZX  jumped 96 percent to 212,909 in January from the same month a year ago and the total value of trades lifted 25 percent to $2.7 billion, NZX said. The S&P/NZX 50 Index climbed 20 percent from the previous January. On the NZDX market for debt securities, however, total trades fell 7.7 percent to 2,093 while the value slipped 12 percent to $78 million. 

NZX's monthly data again showed the dearth of new companies coming to market. Total equity securities fell 7.1 percent to 157 while listed debt securities rose 5.6 percent to 113. There were no initial public offerings or compliance listings in the first month of the year and no new debt listings. 

Secondary capital raisings were $9 million in January. 

The market capitalisation of all equity securities rose 16 percent year-on-year to $135.5 billion, equivalent to 48.7 percent of gross domestic product. The value of debt securities gained 2.7 percent to $26.4 billion, or 9.5 percent of GDP.

In its derivatives market, the total of futures lots traded fell 30 percent to 16,540 in January versus the same month a year ago, while total lots of options rose 108 percent to 3,455. Open interest fell 9.6 percent to 46,676.

In its SuperLife business, KiwiSaver funds under management rose 25 percent to $761 million, while other funds gained 18 percent to $1.27 billion, bringing the total FUM to $2 billion. In Smartshares, the total rose 26 percent to $2.2 billion as units on issue climbed 12 percent to $886 million.

NZX wealth technologies FUM fell 9.2 percent to $1.17 billion.

In NZX's Agri division, subscriptions to NZ agri data products rose 49 percent to 3,617 while Australian data product subscriptions rose 2 percent to 1,516. Total paid advertising page equivalents for its Farmers Weekly title rose 18 percent to 86 in January. 

The shares were unchanged at $1.12, up 1.8 percent over the past year. 


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