NZX share trading value climbs 23pc in September

Trading was up on the NZX during the last month. Photo/Dean Purcell.

The value of share trading on New Zealand's stock exchange climbed 23 per cent in September, rounding out a quarter when the benchmark S&P/NZX 50 index posted its biggest three-month decline in more than three years.

The total value of equity trading rose to $3.4 billion last month from September 2014, while the total number of trades climbed 29 per cent to 120,305, according to NZX's monthly metrics. The value was down from $6 billion traded in August, when ASX-listed Origin Energy sold its controlling stake in Contact Energy, while the number of trades slipped from 141,087.

New Zealand's NZX 50 declined 3.5 per cent in the three months ended September 30, its biggest drop since June 2012, as falling commodity prices and fears about emerging economies sapped investors' appetite for risk-sensitive assets. Still, it outperformed most of its peers, which were hit harder by the souring sentiment, with Australia's S&P/ASX 200 Index falling 8 per cent in the quarter, Wall Street's S&P 500 Index down 7.9 per cent, and the Shanghai Composite Index slumping about 25 per cent.

The benchmark index ended September 6.4 per cent higher than a year earlier at 5,593. The market value of equity on the NZX rose 6.5 per cent over the year to $96.7 billion, or 40.2 per cent of gross domestic product.

Debt trading on the local stock market picked up in September, with the value traded up 48 per cent to $146 million from a year earlier, on 9.9 per cent more trades at 2,918. The market value of listed debt slipped 1.3 per cent to $13.4 billion, or 5.6 per cent of GDP.

About $891 million of new capital was raised across 17 events in September, largely in dual and second issuers, and taking the year to date total to $7.38 billion.

NZX's SuperLife unit grew funds under management 7.9 per cent to $1.33 billion in September from the same month a year earlier, of which $434 million was in KiwiSaver funds. Its Smartshares exchange traded funds had $909 million under management, of which $482 million was held in SuperLife funds.

The stock market's derivatives operations increased lots traded by 203 per cent to 28,542 in September from a year earlier, while open interest jumped 271 per cent to 50,661. The volume of grain traded fell 13 per cent to 531,250 tonnes traded.

NZX shares last traded at 98 cents, and have dropped 16 per cent this year.