FX.co ★ NZX50 Ends Marginally Higher

New Zealand’s primary index, the S&P/NZX 50, saw a slight increase of 0.1% on Tuesday, closing at 13,423. This movement marked a recovery from losses experienced the day before, driven by gains in the financial, health technology, and consumer non-durables sectors, which successfully counterbalanced declines in health services, industrials, and utilities. Positive sentiment was also bolstered by developments in China, New Zealand’s principal trade ally. The release of private sector manufacturing PMI data on Monday revealed modest growth, marking the quickest expansion in three months. Among the market heavyweights, Fisher & Paykel Healthcare advanced by 2.5% and a2 Milk rose by 1.8%. Other significant increases were observed in Briscoe Group, which surged 3.3%, Millennium & Copthorne Hotels, up 2.1%, and Gentrack Group, which increased by 1.5%. On the economic data front, investors are keenly anticipating the upcoming release of New Zealand’s Q4 unemployment statistics and the January labor market data from the US, expected later this week.