FX.co ★ New Zealand Stocks Settle Slightly Higher

New Zealand's primary index, the S&P/NZX 50, rose marginally by 0.1% to close at 13,452 on Thursday. This rebound reversed early declines, marking the fourth consecutive day of growth. The index's upward movement mirrored gains seen on Wall Street overnight, as investors seemed to set aside concerns about the economic repercussions of the government shutdown—for the time being. Additionally, traders increased their expectations for rate cuts by the Federal Reserve due to disappointing private payroll data. Domestically, the spotlight is on the upcoming Reserve Bank of New Zealand meeting next week, where a widely expected decision is a 0.25% rate cut, bringing it to 2.75%. In terms of corporate performance, standouts included Meridian Energy, Auckland International Airport, Fonterra, Port of Tauranga, Fletcher Building, Ryman Healthcare, and Channel Infrastructure, with gains ranging from 1.0% to 2.7%.