"Australia perhaps has a better understanding of the brand."
Nuplex rose 2.4 per cent to $4.78, a seven-year high. The stock has risen 57 per cent this year, and the company last month predicted annual earnings will rise by as much as 22 per cent in 2016.
"Nuplex has had a very good run, it's really a story of low oil prices and a few good upgrades on trade," Davies said.
Energy stocks rose, with Meridian Energy up 2.6 per cent to $2.34, Mighty River Power up 2.2 per cent to $2.77, and TrustPower up 0.5 per cent to $7.64.
"It's a story of yields once again," Davies said. "Investors are looking for income they can't get out of bank deposits at the moment, with interest rates as low as they are."
Air New Zealand rose 0.3 per cent to $2.92. Visitors from China led a jump in Asian arrivals through Auckland International Airport in November, confirming government figures that show New Zealand is becoming a more popular destination as airlines add capacity.
NZX was the worst performer, falling 1.9 per cent to $1.02. The stock had risen 5.9 per cent over three trading days, and has fallen back 4.7 per cent over the past two days.
Metro Performance Glass fell 1.8 per cent to $1.67, while Skellerup Holdings fell 1.3 per cent to $1.48.
Kathmandu fell 1.3 per cent to $1.58. The stock has fallen 26 per cent this year, and Davies said investors were waiting to see how the retailer fared over the key Christmas sales period.
Vital Healthcare Property Trust fell 1.1 per cent to $1.865. The listed hospital owner and developer has bought two parcels of land to expand its orthopaedic surgery hospital in Adelaide, Australia.
Kiwi Property Group fell 0.4 per cent to $2.34. The country's biggest listed property investor by market value has sold the southern part of its recently developed downtown Hamilton shopping centre to an undisclosed local buyer for $46.7 million, a 3 per cent discount to its book value.
Outside the benchmark, Seeka Kiwifruit Industries rose 0.3 per cent to $3.37. The largest kiwifruit grower in Australia and New Zealand said profit for 2015 will be at the upper end of its guidance as insurance claims related to a fire at its Oakside plant are settled. BusinessDesk