NZX 50 Halts Decline, Ends 0.1% Higher
The NZX 50 gained 11 points, or 0.1%, to close at 13,760 on Wednesday, erasing losses from the morning and the previous session, mainly supported by gains in technology, real estate, utilities, and communication services. Fresh data from China, New Zealand's top trading partner, boosted sentiment as export growth in China remained robust, while annual inflation came in below expectations. However, declines in financials and energy limited the gains. Traders also awaited US inflation data for clues about the Fed's interest rate decision at its upcoming meeting, as well as New Zealand's food inflation and business PMI data due later this week. Traders continued to monitor the war in the Middle East, including the Saudi Arabia-Houthi conflict and its impact on oil prices. Notable gainers included Contact Energy (1.8%), Hallenstein Glasson (1.7%), Vulcan Steel (1.5%), Summerset Group (1.2%), Chorus (1.1%), and A2 Milk (0.6%).
1%, to close at 13,760 on Wednesday, erasing losses from the morning and the previous session, mainly supported by gains in technology, real estate, utilities, and communication services. Fresh data from China, New Zealand's top trading partner, boosted sentiment as export growth in China remained robust, while annual inflation came in below expectations. However, declines in financials and energy limited the gains. Traders also awaited US inflation data for clues about the Fed's interest rate decision at its upcoming meeting, as well as New Zealand's food inflation and business PMI data due later this week.
Traders continued to monitor the war in the Middle East, including the Saudi Arabia-Houthi conflict and its impact on oil prices. 6%).