New Zealand Shares Edge Higher Ahead of Fed Decision, Q4 GDP Data

New Zealand equities added 29 points, or 0.2%, to 13,219 in Wednesday morning trade, extending gains from the prior session after Wall Street closed modestly higher Tuesday on expectations that the U.S. Fed will hold rates steady later today. Investors brushed aside local data showing Q1 consumer sentiment weakened as households grew more pessimistic amid rising fuel costs linked to Middle East tensions. Meantime, the Q4 current account deficit slipped to NZD 5.98 billion from NZD 8.36 billion in Q3, though it widened from NZD 5.0 billion a year earlier. Industrial and consumer services led advances, while losses in energy minerals and communications offset them. Among early movers were Tourism Holdings (6.1%), Sky Network Television (3.0%), and PGG Wrightson (1.9%). Market focus now turns to Q4 GDP figures in the Pacific nation and February trade data for further direction. In top trading partner China, the PBoC will review its monthly fixing of key lending rates on Friday.

The NZX 50 edged up 18 points, or 0.1%, to close at 13,182 on Tuesday, ending in positive territory for the first time in four sessions. Gains followed Wall Street’s extended advance Monday, ahead of the U.S. Fed’s policy meeting that begins later today and concludes Wednesday, with rates expected to remain steady amid geopolitical risks. Sentiment was also supported by upbeat activity data in early 2026 from China, New Zealand’s largest trading partner, with investors largely shrugging off U.S. President Trump’s remarks that his planned visit to the mainland will be delayed by about a month due to the Iran war. The meeting with Xi was previously set for March 31–April 2, following their last talks in October 2025. Sector gains were led by utilities, financials, and industrial services, though weakness in consumer, energy minerals, and healthcare capped upside. Notable movers included Chorus Ltd. (2.0%), Seeka Ltd. (1.9%), Meridian Energy (1.7%), and Napier Port Holdings (1.1%).

New Zealand shares were little changed in Tuesday’s morning session, holding near 13,174 after three consecutive declines. Investors weighed fresh data showing food inflation accelerated for the second month, rising to 4.5% in February from a downwardly revised 4.2% in January. Focus also turned to Q4 GDP figures due later this week and the U.S. Fed’s policy meeting, where rates are expected to remain steady, but Powell’s remarks may shed light on how the Middle East conflict could affect the U.S. outlook. In top trading partner China, January–February activity data beat expectations, with industrial output, retail sales, and fixed investment all stronger than forecast. On the NZX 50, gains in consumer durables and industrial services were almost offset by weakness in financials and communications. Summerset Group (1.1%), Genesis Energy (0.9%), and Auckland Intl. Airport (0.7%) advanced, while Scott Technology (-1.3%), Delegat Group (-1.2%), and South Port NZ (-0.9%) lagged.