NZX 50 Ends Higher for First Time in 4 Sessions

The NZX 50 rose 87 points, or 0.6%, to close at 13,618 on Thursday, its first gain in four sessions as broad sector strength lifted the market, led by non-energy minerals, energy minerals, and consumer stocks. Sentiment improved after top trading partner China pledged renewed efforts to stabilize its property sector and optimize housing supply, while unveiling a wide-ranging economic plan despite trimming its 2026 growth target to 4.5%–5%, the first downgrade since 2023. Optimism was further supported by reports of a free trade agreement between Wellington and New Delhi, extending beyond goods into a comprehensive economic partnership. Gains were capped, however, by a pullback in U.S. equity futures following Wall Street’s rally Wednesday on signals that Iran may be open to talks to end the war. Top performers included Gentrack Group (5.1%), Sky Network Television (3.6%), A2 Milk Co (3.2%), and Fletcher Building (2.6%).

New Zealand stocks rose 72 points, or 0.5%, to 13,603 in Thursday morning trade, snapping a three-day losing streak. The rebound followed Wall Street’s strong lead Wednesday after oil prices eased and U.S. economic data turned upbeat. Sentiment was further lifted by news of a free trade agreement between Wellington and New Delhi, extending beyond goods into a broader economic partnership. In Australia, the economy grew by a stronger-than-expected 0.8% qoq in Q4 2025, driven by robust private and public demand, lifting annual growth to 2.6%. Gains in the benchmark index, however, were tempered by data from top trading partner China showing February weakness in manufacturing and services, partly due to the Lunar New Year holiday. Sector-wise, logistics, energy minerals, and non-energy minerals advanced, while process industries and producer manufacturing lagged. Standout performers included Briscoe Group (3.2%), Infratil (2.2%), Tourism Holdings (1.6%), and Sky Network Television (1.5%).

The NZX 50 fell 89 points, or 0.65%, to finish at 13,531 on Wednesday, marking its third straight decline as U.S. stock futures slumped on fears the escalating Middle East conflict could trigger an energy shock, lift inflation, and delay rate cuts. Meanwhile, local media warned that the crisis could spill over into petrol, gas, and foreign trade. In China, New Zealand’s largest trading partner, February’s official PMI showed weakness in manufacturing and services, reflecting the impact of an extended Lunar New Year break and diverging from private survey data that pointed to stronger activity. Still, losses were partly cushioned by Prime Minister Christopher Luxon’s assurance that Wellington will not join the U.S. in the ongoing conflict. Sector declines were broad, led by non-energy minerals, producer manufacturing, and financials. Notable laggards included Scott Technology (-4.4%), Millennium & Copthorne Hotels (-3.6%), Tourism Holdings (-3.1%), and Fletcher Building (-2.8%).