FX.co ★ NZX50 Logs Best Week in Over 5 Months

The S&P/NZX 50 index in New Zealand climbed 1.3% to close at 12,308 on Friday, building on a gain of over 2% from the day before. This resulted in a 2.4% increase over the week, marking its strongest performance since mid-November. The rise was influenced by improved global sentiment due to easing trade tensions between the US and China. China signaled a willingness to explore trade discussions with the US, following President Trump's optimistic comments about potential trade agreements with India, Japan, and South Korea, and expressing optimism about a deal with China. The transportation sector drove the rally, with the sector posting a 3.7% increase. This was notably led by Mainfreight, whose shares skyrocketed over 12% after the company projected a strong full-year profit. Other significant contributors to the index included Auckland International Airport, which went up by 2%; Port of Tauranga, increasing by 1%; Meridian Energy, which gained 2.6%; Mercury NZ, up by 1.9%; and Ebos Group, which rose by 1%.