29.10.202505:24:31UTC+00New Zealand Stocks End Slightly Higher

On Wednesday, New Zealand's leading index, the S&P/NZX 50, recorded a modest rise of 0.05%, closing at 13,409. This increment marks the fourth consecutive day of upward movement. The local exchange followed Wall Street's positive trajectory, where major U.S. stocks hit new record highs on Tuesday. This rally was fueled by robust corporate earnings and heightened interest in artificial intelligence. Meanwhile, investors anxiously awaited the Federal Reserve's impending rate decision. Global investor sentiment was further bolstered by increasing optimism surrounding a potential trade agreement between the U.S. and China. Noteworthy performers included aged-care providers Ryman, which rose by 1.8%, Oceania up by 1.3%, and Air New Zealand with a 1.7% gain. Mining stocks also experienced significant appreciation; New Talisman Gold soared by 17.0% while Santana Minerals climbed 5.3%. However, overall market progress was tempered by declines in Vista Group, down 3.9%, Auckland International Airport, which lost 0.7%, and Precinct Properties, decreasing by 0.8%.