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%).
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