Shares in Chorus climbed 8 percent in early trading after Milford Asset Management yesterday said the regulatory uncertainty hanging over the network operator was fully priced in, and the investment arm of the Accident Compensation Corp lifted its holding in the telecommunications company. The stock rose as high as $1.50, and recently traded at $1.48, up 11 cents from yesterday, …

New Zealand manufacturing activity expanded in November, with high orders and lean inventory suggesting the pick-up in production will continue. The BNZ-BusinessNZ seasonally adjusted PMI rose to 56.7 in November from 55.9 in October and 50.2 in November last year. A reading above 50 signals expansion. The manufacturing sector has been in expansion for 14 consecutive months, with the PMI …

The New Zealand dollar touched a new five-year high against the Australian dollar after Reserve Bank of Australia governor Glenn Stevens talked down the value of his currency on the same day the New Zealand central bank said local rates were heading higher. The kiwi touched 92.46 Australian cents early this morning, and was trading at 92.23 cents at 8am …