FX.co ★ New Zealand Stocks Extend Gains

The NZX 50 experienced an uptick of 35 points, or 0.3%, reaching 12,454 during early trading on the first day of June. This marks the second consecutive day of gains as investors resumed activities following Monday’s holiday. Investor sentiment was buoyed by a positive session on Wall Street, where markets largely dismissed escalating trade tensions between the U.S., China, and the EU. The NZX 50 has thus distanced itself from last week's one-month low, with notable gains in sectors such as manufacturing, non-energy minerals, and healthcare. However, the upward trend was somewhat mitigated by a decline in U.S. futures, following President Trump's defense of increased tariffs on steel imports, which he argued were necessary to protect American workers and bolster domestic steel producers. Regarding economic data, New Zealand reported a 1.9% quarterly increase in its terms of trade for the first quarter of 2025, falling short of the anticipated 3.1% rise. Export prices surged by 7.1%, marking the most significant increase in three years, while import prices rose by 5.1%, the largest jump in 10 quarters. Leading performers included Ryman Healthcare, with a 3.3% increase, Meridian Energy, up 1.9%, and Third Age Health Services, gaining 1.5%.