NZX 50 Snaps 2-Session Losing Streak, Ends 0.5% Higher

New Zealand’s stocks rose 64 points, or 0.5%, to close at 13,888 on Monday, halting losses in the previous two sessions, tracking a rise on Wall Street on Friday after softer-than-expected labor data dampened expectations of a Fed rate hike at the September meeting. The broader index was mainly supported by gains in healthcare, financials, and industrials. Positive trade data from China, New Zealand’s top trading partner, with export growth remaining robust, continued to help cap the losses, while inflation eased to a six-month low. However, traders anticipated the release of US inflation data this week for clues about the Fed’s monetary policy at the upcoming meeting, while rising oil prices capped the gains amid uncertainty over whether to reopen the Strait of Hormuz. Among the top performers were Ryman Healthcare (2.4%), Infratil (2.2%), Ebos Group (1.8%), Fisher & Paykel (1.2%), F&C Investment (0.9%), Hallenstein Glasson (0.8%), and Mainfreight (0.7%).




