FX.co ★ New Zealand Stocks Kick-Start July Higher

The S&P/NZX 50 index advanced by 0.4% to conclude at 12,655 on Tuesday, furthering its recent upward trend and marking the beginning of the month on an optimistic note. This rise was significantly influenced by gains in health sector stocks and non-energy mineral shares. Investors continued to assess the global implications of the United States' tariff policies, particularly as the 90-day reprieve is set to expire in the upcoming week. Treasury Secretary Scott Bessent noted that while some nations are engaging in “good faith” negotiations, there remains the possibility for tariffs to revert to their April 2 levels should talks come to a halt. In a favorable development, private data indicated that China's manufacturing sector has returned to an expansion phase, alleviating concerns over potential risks to New Zealand's exports due to the close trade relationship between the two countries. Notable gains were observed among health sector stocks and non-energy mineral shares, with Fisher & Paykel rising by 2.6%, AFT Pharmaceuticals by 1.1%, Fletcher Building by 2.1%, Santana Minerals by 2.7%, and Arborgen Holdings by 1.6%.