New Zealand shares rose 53 points, or 0.4%, to 13,973 on Friday, reversing early losses and wiping out the previous session’s decline to close at their highest level since August 5. The advance was driven by strength in technology, consumer staples, real estate, and communication services, with sentiment underpinned by generally positive earnings results at the height of the corporate reporting season.
Gains were partly offset by weakness in energy, materials, and industrials. A negative lead from Wall Street on Thursday, alongside rising US Treasury yields, also tempered the local market’s upside. Investors were looking ahead to the release of US July PMI data and New Zealand’s second‑quarter retail sales figures, both due next week.
On the domestic data front, New Zealand’s trade deficit widened in July, as import growth outpaced the rise in exports. Among the notable gainers were Scales Corp. (up 2.6%), Colonial Motor (1.6%), Fisher & Paykel (1.3%), A2 Milk (1.2%), Chorus (1.2%), and Westpac Banking Corp. (1.0%). For the week, the benchmark index added 0.9%, marking a third straight weekly advance.
