New Zealand shares climbed 115 points, or 0.8%, on Wednesday to finish at a record high of 13,977, marking a third straight all-time closing high. Almost all sectors advanced, led by materials, healthcare, consumer staples, and communication services.
Sentiment remained upbeat as investors looked ahead to the start of the corporate earnings season next month, even as a rebound in oil prices—driven by renewed tensions in the Middle East—and a global selloff in technology stocks tempered risk appetite. Caution also prevailed ahead of the US Federal Reserve’s interest rate decision due later in the day.
AFT Pharmaceuticals was the standout performer, jumping 7.6% after the company said its project pipeline had opened up multi-billion-dollar market opportunities. Other notable gainers included Ebos Group (up 4.6%), Fisher & Paykel Healthcare (2.5%), Chorus (2.5%), Delegat Group (1.7%), A2 Milk (1.4%), Mercury NZ (1.2%), Auckland International Airport (0.9%), and Infratil (0.9%).
