New Zealand Shares Close Nearly 1% Higher
Bradene SlawskiNew Zealand's benchmark S&P/NZX 50 index rose nearly 1% to close at 11,891 on Tuesday, rebounding from a two-day sell-off as risk sentiment improved slightly after the US expressed willingness to engage in trade talks with key partners.
This raised hopes for a de-escalation of global trade tensions.
However, Trump stated he would not suspend tariffs and threatened further increases on Chinese imports.
This poses a risk to New Zealand’s export-driven economy, especially since China, its largest trading partner, faces total tariffs of 54%.
Domestically, focus turns to the Reserve Bank of New Zealand’s policy decision on Wednesday, with a 25bps cut expected to reduce the official cash rate to 3.5%.
Among key stocks, gains were seen from Fisher & Paykel (+1%), Meridian Energy (+1.5%), Infratil (+2.5%), Mercury NZ (+2.8%), and A2 Milk (+2.8%).
FinanceWiki is for the purpose of delivering user creations, but does not mean to agree with their views or confirm the authenticity of their content. Please make your own judgment when reading and browsing. The articles are published by users registered on FinanceWiki, not by FinanceWiki. If there is any infringement, please contact us in time for processing, and we will respond and resolve it as soon as possible.
