FX.co ★ New Zealand Shares Extend Gains

During Thursday's morning session, New Zealand's stock market experienced an upward movement, climbing 56 points, or 0.5%, to reach 12,107. This increase marks the second consecutive day of growth for the market. The recent rallies in the Wall Street market contributed to this positive trend, driven by U.S. President Donald Trump's remarks on progress in trade negotiations with Beijing and his reiterated support for Federal Reserve Chair Jerome Powell. In China, a significant trading partner, investor attention is focused on the forthcoming Politburo meeting, anticipated to occur later this week. This meeting is crucial as it comes amidst various domestic and international challenges, and markets are eager for definitive policy guidance from Beijing. Domestically, the ANZ-Roy Morgan Consumer Confidence Index supported local sentiment by climbing to a four-month high of 98.3 in April, indicating expectations that inflation will remain in check. The primary contributors to the market's advance included sectors such as producer manufacturing, utilities, and consumer services. Notable performers included Vector Ltd. with a rise of 2.8%, Skellerup Holdings which increased by 2.3%, Hallenstein Glassons Holdings with a gain of 1.9%, and AFT Pharmaceuticals Ltd. advancing by 1.5%.