New Zealand stocks climbed 105 points, or 0.8%, to 13,985 in Friday morning trading, snapping the previous session’s losses and mirroring an overnight rally on Wall Street driven by tech shares. Sentiment was supported by optimism around corporate earnings, with traders positioning ahead of results due from several companies later in the day.
At the same time, investors remained cautious ahead of next week’s monetary policy decision from the Reserve Bank of New Zealand and a forthcoming speech by the US Federal Reserve Chair, which could offer fresh signals on the Fed’s next interest rate move.
Gains were led primarily by energy, healthcare, and communication services stocks. Channel Infrastructure advanced 3.4% ahead of its earnings release, while Port of Tauranga added 1.5% despite reporting a drop in net profit. Sky Network TV surged 7.4% after posting more than double its previous net profit.
For the week, the benchmark index is on track for a subdued close, even after recording its third straight weekly gain.
