FX.co ★ New Zealand Stocks End Higher

On Tuesday, New Zealand's S&P/NZX 50 index increased by 0.2%, reaching 13,235, effectively recovering from the losses experienced in the previous trading session. Investors are eagerly anticipating GDP figures, which are anticipated to underscore the necessity for further economic stimulus. With forecasts suggesting a return to contraction after two quarters of growth, the likelihood of additional easing measures by the Reserve Bank of New Zealand (RBNZ) appears to be increasing. Meanwhile, advancements in the US-China trade discussions held in Spain have alleviated some concerns regarding potential threats to New Zealand's export-reliant economy. On the data side, annual food inflation remained steady at 5% in August, consistent with July figures, and represents the highest rate since November 2023. Among notable market movements, Channel Infrastructure, an energy stock, surged by over 3%, bolstered by the rising oil prices caused by ongoing supply disruptions in Russia due to Ukrainian incursions and heightened US pressure on purchasers of Russian crude. Additionally, gains were observed in the healthcare and industrial sectors, with companies such as Summerset increasing by 2.4%, Ryman by 1.6%, and Ventia by 1.1%.