11 June 2025, 02:56 New Zealand: Stocks Extend Gains.
Shares in New Zealand climbed 43 points, or 0.3%, to 12,608 - up for the second straight session - due to positive signals surrounding the US-China trade talks, despite a lack of details. The NZX 50 tracked a rise on Wall Street overnight, supported by optimism over US-China trade negotiations. Traders continued to monitor the development of the talks after US Commerce Secretary Howard Lutinick said that discussions could run into Wednesday. However, the World Bank report capped gains, as the agency lowered its projection for global GDP growth to 2.3%, down from 2.7% expected in January, due to higher tariffs. On the data front, New Zealand visitor arrivals jumped 18.8% year-over-year in April, rebounding from an 8.4% drop in March. Industrials, financials, and communication services mainly drove the index, with notable gains including Auckland International Airport (1.4%), ANZ Group (1.3%), Infratil (0.8%), Property for Industry (0.7%), and Summerset Group (0.5%).
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