The NZX 50 rose 112 points, or 0.8%, to close at 13,532 on Tuesday, extending the previous session’s gains and holding near a two-week high. Risk sentiment stayed positive, supported by modestly higher U.S. equity futures after Monday’s Wall Street sell-off, which had been driven by uncertainty over tariffs, escalating geopolitical tensions, and concerns surrounding AI-related investment. Traders also pointed to reports that China is pressing Washington to scrap unilateral tariff measures and warning of the risks of a damaging confrontation.
On the domestic front, Reserve Bank Governor Anna Breman said New Zealand’s growth outlook appears encouraging after three years of stagnation, helped by relatively limited geopolitical exposure, although cautious household behaviour remains a drag. Still, further upside in the market was restrained ahead of January business and consumer confidence figures due later this week. Sector-wise, energy minerals, healthcare, and process industries outperformed. Notable gainers included Channel Infrastructure (+4.4%), Fisher & Paykel Healthcare (+2.4%), Sanford Ltd. (+2.2%), and Tourism Holdings (+1.7%).
