FX.co ★ Muted Trading Marks New Zealand Market Return

On Monday, New Zealand's stocks showed minimal movement during morning trading, with the key NZX 50 index hovering around 13,534. This follows four consecutive days of gains as trading resumed post-holiday. The market strength seen in industrial services and non-energy minerals was nearly balanced by declines in transport and process industries. Investors faced low trading volumes and were unable to identify new market stimulants, especially after U.S. equities ended slightly lower last Friday. Despite this, Wall Street remains close to record highs due to what is colloquially known as the "Santa Claus rally." Among individual stocks, Serko Ltd. rose by 2.7%, Vista Group International by 1.9%, and Genesis Energy by 1.7%. In contrast, Winton Land decreased by 0.9%, Colonial Motor Company by 0.6%, and Contact Energy by 0.4%. Despite the muted commencement of trading this week, local markets are poised to finish the year with approximately a 3% rise. This would mark the third consecutive annual increase, bolstered by positive sentiment regarding domestic economic recovery and statements from Reserve Bank Governor Anna Breman suggesting that borrowing costs are likely to remain stable for the foreseeable future.