NZ sharemarket closes at record high

The sharemarket has closed at a record high as investors piled into high yielding stocks.

The benchmark top 50 index closed up more than 100 points, nearly 1 percent.

Growth and technology stocks such as A2 Milk, and big dividend payers stocks such as the power companies and Fisher and Paykel Healthcare have been driving the market.

So far this year the New Zealand stock exchange has risen more than 28 percent to be one of the best performing markets in the developed world.