FX.co ★ New Zealand Stocks Rise as Health Tech Gains

New Zealand's main index, the S&P/NZX 50, saw a 0.5% increase, closing at 12,703 on Wednesday, primarily due to upturns in health technology stocks. Fisher & Paykel Healthcare experienced a significant rise of 3.5%, with Ebos Group and AFT Pharmaceuticals also seeing gains of 0.6% and 0.8%, respectively. Other notable performances included Contact Energy, which rose by 1.2%, Port of Tauranga at 1.7%, Fletcher Building up 1.5%, Ryman increasing by 2.5%, and Freightways advancing by 1.1%. The market sentiment was further uplifted by positive domestic economic indicators, highlighted by a trade surplus of $1.43 billion in April. This marks a noteworthy shift from a $0.01 billion deficit in the previous year, attributed to a robust 25% surge in exports, outpacing the 1.8% increase in imports. Investors are now directing their focus towards the upcoming government budget announcement expected on Thursday.