FX.co ★ New Zealand Shares Reach Fresh Peak, Extend Winning Streak

New Zealand's stock market saw an increase of 52 points, or 0.4%, reaching a new record high of 13,673 during Thursday morning trading. This marks the continuation of a positive trend for the 10th consecutive session. Investor sentiment was buoyant, reflecting the rebound in Wall Street on Wednesday, supported by a substantial rise in U.S. private payrolls for October and a reduction in worries over the overvaluation of tech stocks. Domestically, the unemployment rate for the third quarter rose to 5.3%, marking the highest level since 2016 and strengthening the anticipation of further monetary easing by the Reserve Bank of New Zealand (RBNZ) later in the month. However, these gains were tempered by increasing caution ahead of significant data releases from China, New Zealand’s primary trading partner, including October's trade and inflation statistics. Market participants were also looking forward to the release of September visitor arrivals data next week, following robust figures in August. Leading the early gainers were Sky Network TV, which increased by 1.1%, Delegat Group at 1.0%, Meridian Energy at 0.9%, and Ryman Healthcare at 0.7%.