The NZX 50 rose 70 points, or 0.5%, to 13,090 in Tuesday morning trading, breaking a two-session losing streak and mirroring overnight gains on Wall Street. Sentiment was supported by hopes of renewed negotiations between the US and Iran, despite US President Trump’s threat to destroy Iranian vessels in the Strait of Hormuz. The broader index rebounded from its lowest level since April 2, touched in the previous session.
Investors remained cautious ahead of the release of Chinese trade balance data later in the day, with China being New Zealand’s largest trading partner. Markets were also looking toward a raft of Chinese indicators due Thursday, including Q1 GDP.
Sector-wise, healthcare led the advance, followed by consumer staples, real estate, and industrials. Notable early gainers included Ryman Healthcare (+3.0%), Ebos Group (+2.0%), Fletcher Building (+2.0%), Freightways (+1.4%), Chorus (+0.9%), AFT Pharmaceuticals (+0.8%), Fisher & Paykel Healthcare (+0.5%), and ANZ Group (+0.4%).
