FX.co ★ New Zealand Stocks End Higher

New Zealand's S&P/NZX 50 index advanced by 1.1%, closing at 13,070 on Monday, marking its third consecutive session of gains. The upward movement was seen across most sectors, with notable performances in health and transportation. This positive trend was bolstered by optimistic data from China, where a private survey indicated an unexpected return to growth in the manufacturing sector for August, enhancing market sentiment due to China's significant trade relationship with New Zealand. However, gains were constrained by global uncertainties following a U.S. federal appeals court's decision deeming most of President Trump's April tariffs illegal, citing overreach. Investors also looked forward to the U.S. August employment report to assess the Federal Reserve's monetary policy approach, in light of ongoing price pressures as highlighted in the latest Personal Consumption Expenditures (PCE) report. Leading the charge were companies like Ryman, which rose by 3.4%, Summerset by 1.4%, Ebos by 2.2%, Mainfreight by 3.9%, and Port of Tauranga by 1.7%. The utilities sector also saw gains, particularly with Contact Energy up by 2.2% and Meridian Energy by 2.5%.