FX.co ★ New Zealand Shares Trade Slightly Higher

New Zealand's stock market experienced a modest uptick on Thursday morning, with the NZX 50 rising by 25 points, or 0.2%, to reach 11,928. This gain follows two consecutive sessions of losses. The upward movement was bolstered by robust performances in sectors such as industrials, technology, real estate, and consumer staples. Investors were cautiously optimistic about a potential thaw in US-China trade tensions, prompted by China's decision to exempt certain US products from its previously enforced 125% tariffs. Despite concerns over domestic budget cuts, hopes were pinned on prospective interest rate cuts to mitigate the risk of economic disruptions stemming from the ongoing trade conflict. Nevertheless, these gains were tempered by recent statistics indicating a decline in consumer confidence to its lowest level in nine months, coupled with disappointing PMI figures from China, New Zealand's principal trading ally. Notable early risers included Auckland International Airport with a 2.4% increase, Skellerup Holdings climbing 1.7%, Westpac Banking Corp. up by 0.9%, followed by Infratil and A2 Milk both advancing by 0.5%.