FX.co ★ New Zealand Stocks Rebound

On Wednesday, New Zealand's primary index, the S&P/NZX 50, advanced by 1.4%, closing at 12,495, rebounding from a prior session decline of 0.7%. This uptick mirrored a rally in US equities, driven by an increase in chip stocks and unexpectedly strong job openings data for April. Market participants are now focusing on potential discussions between the US and its trading partners to gain insight into Washington's tariff strategies. Furthermore, speculation regarding an upcoming meeting between US President Donald Trump and Chinese President Xi Jinping has fueled optimism about easing trade tensions between these economic powerhouses. The gains were widespread across sectors, notably in utility companies such as Meridian Energy, which rose by 3.05%, Mercury NZ by 4.2%, and Vector by 4.2%. Additionally, Australian banks with local shares, Westpac and ANZ, saw upticks of 2.6% and 2.0%, respectively. Other significant contributors to the index's performance included Auckland International Airport, up by 2.9%, a2 Milk, with a 3.9% rise, and Spark NZ, which increased by 2.5%.