FX.co ★ New Zealand Stocks Track Wall Street Higher

In Thursday's early trading, New Zealand's equities edged up by 33 points or 0.3% to reach 12,802, reversing losses from the day before. The NZX 50 index mirrored a positive performance in Wall Street overnight, as investors evaluated the Federal Reserve's meeting minutes and the consequences of expanding tariffs. Sentiment was further bolstered by new data from China, New Zealand's principal trading partner, indicating a rise in consumer prices for the first time in five months, despite continued declines in producer prices. Nonetheless, traders continued to process the Reserve Bank of New Zealand's decision on Wednesday to hold interest rates steady and its implications for the nation's economy. In terms of economic indicators, the annual increase in visitors to New Zealand slowed to 6.1% in June, compared to an 18.8% rise in May. The index's growth was primarily driven by sectors such as consumer staples, financials, real estate, and industrials. Leading the gains in early trading were A2 Milk, up 1.9%, Bankers Investment Trust with an increase of 1.8%, Infratil at 1.5%, Colonial Motor Company rising by 0.8%, as well as Ebos Group and F&C Investment Trust, both advancing 0.4%.