New Zealand shares rose 24 points, or 0.2%, to 13,735 on Thursday, rebounding from their lowest close since July 31 hit in the previous session. Gains were led primarily by consumer discretionary, healthcare, and real estate stocks.
Trading sentiment remained cautious ahead of key US inflation data due later today, which investors are watching closely for signals on the Federal Reserve’s policy decision next week. Uncertainty also grew in advance of next week’s release of New Zealand’s Q2 GDP figures and a raft of economic data from China, the country’s largest trading partner.
Upside was further limited by a weak overnight session on Wall Street, where equities came under pressure from climbing Treasury yields and higher oil prices. On the domestic data front, New Zealand’s manufacturing sector continued to expand in August, but at a slower pace.
Notable early gainers included Hallenstein Glasson (up 1.6%), Ebos Group (1.1%), Chorus (0.7%), F&C Investment (0.6%), and ANZ Group (0.2%). For the week, the index remains on track for a 1.5% decline, following a rise in the previous week.
