New Zealand shares rose 72 points, or 0.5%, to 13,319 in early Thursday trading, extending the prior session’s gains after a positive lead from Wall Street, where easing concerns over AI and resilient U.S. economic data supported sentiment. Domestically, the Reserve Bank kept its cash rate unchanged at 2.25%, as widely expected, and reiterated its accommodative stance. Governor Anna Breman said rate hikes would be contingent on stronger inflation and growth.
Gains were led by process industries, logistics, and healthcare, while industrial services, transport, and electronic technology stocks limited the upside. Notable movers included Scales Corp. (+5.3%), Ryman Healthcare (+2.5%), Contact Energy (+1.2%), and Spark NZ (+0.9%).
On the global front, minutes from the Federal Reserve’s January FOMC meeting showed policymakers divided over the future path of interest rates. Investors are now looking ahead to January trade data due Friday, after both exports and imports in New Zealand rose 15% year-on-year in December.
