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NZ money - Source: Photos.com
New Zealand's markets are still in "wait and see" mode after the Greek election went the way of pro-bailout party New Democrats.
Sam Stanley, the manager of strategy and sales at the NZX, told ONE News Greece's election has not resulted in any big changes on the markets.
"We've seen a pretty subdued start to the day to be honest - it's flat overall and the market is still in a bit of a 'wait and see' mode," he said.
"Basically I'd expect to see a little more reaction later on when some of the offshore markets come in."
Greece's largest pro-bailout parties, New Democracy and Pasok, have secured 163 out of the 300-seats, according to the official projection by the Interior Ministry in Athens based on 63% of the vote.
If the two parties agree to form a coalition the indebted nation is likely to stay in the euro-zone.
Stanley said flat activity in the market can be a sign of uncertainty - showing investors are biding their time to find out more.
But it is still good news for the markets overall, said Stanley.
"If this had been a bad result for the markets, in other words if Syrizia had got in, we'd see the markets quite heavily trade off. It's good news for the market overall."
Stanley said he expects a relief rally on the cards.
In response to the Greek election outcome, the kiwi recently traded at 79.07 US cents, up from 78.88 cents at 8am.
Mike Jones, a market strategist from Bank of New Zealand, said the markets have got the result they wanted and that will keep the appetite for risk buoyant.
"The kiwi will continue to climb on the coat-tails of the euro - that mood will continue over the next few days," Jones said.
Imre Speizer, a market strategist at Westpac, said the markets will now wait for the final outcome of the Greek government.