FX.co ★ New Zealand Shares Hold Steady, Year-End Gains Still Intact

In early Tuesday trading, New Zealand's stock index held steady at 13,534, echoing a subdued session from the previous day. Gains in the energy minerals and industrial services sectors were nearly balanced by declines in consumer durables and logistics stocks. This stagnation came amid light trading volumes, as Wall Street's tech stocks pulled back following a rally that propelled the S&P 500 to new highs last week. Investors are closely monitoring the upcoming release of the Federal Reserve's minutes, which could provide insights into the anticipated pace of monetary easing in 2026. Additionally, attention is on the forthcoming U.S. weekly jobless claims report. In the New Zealand market, Serko Ltd. saw an increase of 1.6%, while Ebos Group Ltd. and Delegat Group rose by 1.2% and 1.1%, respectively. Conversely, Millennium & Copthorne Hotels fell by 1.6%, Vista Group International decreased by 1.5%, and Tourism Holdings dropped 1.2%. Despite these fluctuations, the local markets are projected to close the year approximately 3% higher, marking a third straight year of gains, buoyed by optimism about economic recovery and signals from the Reserve Bank of New Zealand indicating that interest rates are expected to remain stable.