By Tina Morrison
The volume and value of trading on New Zealand's stock exchange increased last month amid surging demand for equities in a low interest rate environment.
The total number of trades rose 1.7 percent to 123,378 in October from the same month a year earlier, while the value increased 49 percent to $4.3 billion, NZX said in its monthly shareholder metrics.
Daily average trades increased 6.5 percent to 5,875, while the daily average value jumped 56 percent to $207 million.
The benchmark S&P/NZX 50 Index booked its best month in October since the global financial crisis, climbing to record levels, as volatility in international markets abated, renewing the demand for returns on equities as low interest rates persist.
Within the index, the month's rally was broad-based, with 45 stocks gaining, four declining and only Trade Me Group, the online auction house, unchanged.
Shares of NZX last traded at 96 cents and have fallen 18 percent so far this year.