New Zealand Shares Hover at 5-Week High

New Zealand stocks rose 74 points, or 0.6%, to 13,600 in Thursday morning trade, rebounding from a muted session the day before. The benchmark NZX 50 touched a five-week high, lifted by Wall Street’s tech-driven rally on Wednesday as concerns over AI disruption eased. Locally, the Reserve Bank is reportedly proposing nationwide access to free cash services, a move the banking lobby warns would raise costs across the sector and ultimately for all New Zealanders. Gains were capped, however, as U.S. President Trump cautioned countries against retreating from recent trade deals, threatening higher tariffs if they did. Industrial services, healthcare, and utilities led advances, while commercial services and producer manufacturing weighed on momentum. Early standouts included Sky Network TV (4.6%), Seeka Ltd. (1.4%), Meridian Energy (1.3%), and EBOS Group (1.1%). Traders now await January’s business and consumer confidence data for cues on economic health.

The NZX 50 ended slightly lower at 13,525 on Wednesday, reversing morning gains and retreating from a near two-week high after two sessions of strength. Losses in logistics, utilities, and healthcare weighed on sentiment, which weakened after U.S. President Donald Trump warned that countries must not retreat from recently negotiated trade deals and threatened sharply higher duties if they did. In his State of the Union speech, Trump defended tariffs as tools “to make great deals” and called the Supreme Court’s ruling against them “disappointing.” Locally, New Zealand's business and consumer confidence data for January will be due in the coming days. In Australia, inflation came in slightly above expectations in the first month of 2026, highlighting persistent cost pressures that resurfaced in the second half of last year. Among notable laggards were Third Age Health Services (-5.7%), Chorus Ltd. (-4.0%), Ryman Healthcare (-3.7%), and Meridian Energy (-3.1%).

New Zealand shares edged up 26 points, or 0.2%, to 13,558 in Wednesday morning trade, extending gains for a third session and holding near a two-week peak. Sentiment was supported by Wall Street’s positive lead Tuesday as easing concerns over AI disruption supported risk appetite. Investors also looked ahead to U.S. President Trump’s State of the Union address for cues on trade policy. In key trading partner China, markets closed notably higher Tuesday after the Lunar New Year break, while the PBoC kept loan prime rates at record lows for a ninth straight month. Gains in Wellington, however, were tempered by caution ahead of upcoming January business and consumer confidence data. Sector-wise, consumer services and process industries mainly advanced, while healthcare, financials, and industrial services lagged. Notable movers included EBOS Group (3.7%), Tourism Holdings (2.3%), Property for Industry (1.8%), and Scales Corp (1.6%).