FX.co ★ New Zealand Stocks End Higher

On Monday, New Zealand's benchmark S&P/NZX 50 index increased by 0.6%, closing at 13,506, successfully recovering from the previous week’s declines. The rise was predominantly led by the technology services sector, which experienced a remarkable gain of over 8%. This surge was primarily propelled by Gentrack Group, whose shares soared by more than 18% following the company's surpassing of annual earnings expectations and reporting a 119% increase compared to the previous year. Other significant performers included Briscoe Group, which rose by 3.3%, Serko by 3.2%, Sanford Limited by 2.6%, and both Chorus Limited and Tourism Holdings by 1.7% each. Attention in the markets now shifts towards the Reserve Bank's upcoming monetary policy decision, with traders factoring in a complete 25 basis points rate cut, along with a slight possibility of an unexpected 50 basis points move, akin to that of October. Additionally, investors are eagerly awaiting guidance following the decision, as experts suggest it could mark the final reduction in the current cycle of monetary easing. Furthermore, traders are preparing for the release of additional economic indicators, including data on retail sales, business confidence, and consumer sentiment.