FX.co ★ New Zealand Stocks Up Slightly

On Wednesday morning, the New Zealand stock market climbed by 34 points, or 0.3%, reaching a level of 12,045. This uptick successfully offset the declines observed during the previous session. Gains were primarily driven by the financials, consumer staples, and real estate sectors. The NZX 50 index benefited from optimism about potential tariff reductions by the United States, particularly following news of possible tariff exemptions for the automotive industry set to be announced next week. On the domestic front, New Zealand is preparing for the release of its first-quarter inflation data on Thursday. The market anticipates a minor increase to 2.3%, which remains near its lowest since the first quarter of 2021. This expectation has generated optimism for potential further interest rate cuts by the Reserve Bank of New Zealand (RBNZ). Traders are also on the lookout for a range of economic indicators from China, expected later today, including GDP, industrial output, and retail sales figures. Notable early gainers in the market included Infratil with a 1.6% increase, A2 Milk also rising by 1.6%, Port of Tauranga up by 1.0%, ANZ Group advancing 0.8%, and Mainfreight with a gain of 0.4%.