New Zealand Stocks Snap 5-Session Losing Streak

The NZX 50 increased 211 points, or 1.7%, to 12,974 on Tuesday, snapping a five-session losing streak, as traders took profits after the index hit its lowest level since March 30 a day earlier. The broader index rose, with almost all sectors trading in the green, led by energy stocks amid easing US-Iran tensions after President Trump postponed a planned strike on Iran. Fresh data also lifted sentiment, with New Zealand’s input and output prices rising by 1.4% and 0.8%, respectively, in Q1, both surpassing market expectations. However, traders remained cautious ahead of the PBOC’s interest rate decision due Wednesday, following disappointing Chinese economic data released on Monday. Summerset Group Holdings soared 4.2%, Fisher & Paykel Healthcare jumped 4.0%, while both Mainfreight and South Port New Zealand surged 3.4%. Meanwhile, Contact Energy and Freightways advanced 2.7% each, while Westpac Banking Corporation and ANZ Group rose 1.7% and 1.6%, respectively.

The NZX 50 climbed 85 points, or 0.7%, to 12,849 in Tuesday morning trading, snapping a five-session losing streak, as traders took profits after the index hit its lowest level since March 30 a day earlier. The broader index rose, mainly boosted by gains in healthcare, energy, real estate, and utilities. Fresh data also lifted sentiment, with New Zealand’s input and output prices rising by 1.4% and 0.8%, respectively, in Q1, both surpassing market expectations. However, traders remained cautious ahead of the PBOC’s interest rate decision due Wednesday, following disappointing Chinese economic data released on Monday. In the US, Wall Street closed mixed as traders monitored developments in the US-Iran talks. Among the top performers were South Port New Zealand (4.0%), Mainfreight (3.4%), Contact Energy (2.2%), Fisher & Paykel Healthcare (1.8%), Channel Infrastructure (1.3%), ANZ Group (0.6%), Freightways (0.6%), and Ebos Group (0.5%).

The NZX 50 fell 202 points, or 1.6%, to close at 12,763 on Monday, declining for the fifth consecutive session and marking its lowest level since March 30, tracking losses in U.S. futures ahead of Nvidia’s earnings results and amid renewed escalation in US-Iran tensions. Fresh data also pressured sentiment after New Zealand’s private sector continued to contract, with the services sector shrinking for the third straight month, though at a softer pace, while factory activity expanded at its slowest pace in seven months. Disappointing Chinese economic data also weighed on sentiment, while investors awaited the PBOC’s interest rate decision later this week. Almost all sectors traded in the red, led by consumer staples, followed by consumer discretionary and information technology. Among the top losers were A2 Milk (-5.1%), Mainfreight (-4.3%), Ebos Group (-3.4%), Freightways Group (-3.0%), Auckland International Airport (-1.6%), Fisher & Paykel Healthcare (-1.4%), and Infratil (-0.9%).