03.11.202523:12:38UTC+00New Zealand Stocks Extend Winning Streak to 8th Session

Shares in New Zealand experienced an increase of 78 points or 0.6% to reach 13,635 on Tuesday morning. This marks the eighth consecutive session of gains, maintaining their highest level since mid-October. The sectors leading this advance were commercial services, industrial services, and financials, influenced by Monday's gains in Wall Street's S&P 500 and Nasdaq ahead of significant U.S. private employment data and ongoing quarterly earnings reports. On the domestic front, building permits surged by 7.2% from the previous month in September, noting the fastest growth rate in four months. Nonetheless, the upward momentum was tempered by disappointing Chinese factory data for October, with private PMI figures falling below expectations and official numbers indicating the sharpest downturn in six months. Investors also exercised caution in anticipation of Australia's interest rate decision later in the day, as indications of rising cost pressures become evident. Notable early gainers included Vista Group International, Gentrack Group, Auckland International Airport, and Fletcher Building, with increases of 1.5%, 0.9%, 0.7%, and 0.6% respectively.