FX.co ★ New Zealand Stocks Hover at 1-Month High

On Monday, the NZX 50 saw a slight increase, reaching 12,336 in early trading, marking its third consecutive session of gains and achieving its highest point in a month as most sectors showed advancement. The positive sentiment was bolstered by a rally on Wall Street on Friday, influenced by a US jobs report that surpassed expectations. Concurrently, US President Trump indicated an openness to lowering tariffs on China, highlighting that the current tariffs are so prohibitive that they have effectively halted business between the two economies. In response, Beijing announced on Friday that it was considering the potential for trade discussions with the US since the imposition of Trump’s tariffs last month. Domestically, there was optimism that the Reserve Bank of New Zealand would reduce interest rates later this month in light of continuing low inflation. However, caution tempered further gains, as the market awaited New Zealand's labor data for the first quarter of 2025 due later this week. In the previous quarter, Q4 2024, New Zealand's unemployment rate rose to 5.1%, the highest since the first quarter of 2020. Companies leading the early movements included Ryman Healthcare Ltd., which rose by 2.6%, Mainfreight Ltd., up by 2.1%, and Skellerup Holdings, which increased by 1.2%.