FX.co ★ New Zealand Stocks Muted in Morning Trade

On Tuesday, the NZX 50 index held steady around the 13,353 mark during early trading sessions. This performance came after the index dropped to its lowest since September 30 in the previous session, with gains in the energy and technology sectors balancing out declines in real estate and financial stocks. Investors remained focused on US-China trade dynamics following US Treasury Secretary Scott Bessent's announcement on Monday that President Trump is expected to meet with Chinese President Xi Jinping in South Korea in late October. This meeting aims to alleviate tensions arising from tariff disputes and export regulations. Adding a positive note, data released on Monday highlighted that Chinese exports and imports exceeded expectations in September, potentially enhancing New Zealand's export opportunities with its largest trading partner. Conversely, New Zealand's electronic card transactions for the month of September decreased by 0.5%. Among notable movements, ANZ Group increased by 0.5%, Ebos Group saw a 0.4% uptick, whereas AFT Pharmaceuticals and the Bankers Investment Trust experienced declines of 1.4% and 1.1%, respectively.