5 June 2025, 02:26 New Zealand: NZ Shares Extend Gains.
The NZX 50 rose 75 points or 0.6% to 12,569 on Thursday morning trade, marking the second straight session of gains amid strength in logistics, non-energy minerals, and healthcare stocks. The index hit its highest level in a week, shrugging off a mixed performance on Wall Street Wednesday ahead of potential developments on the trade front and weaker-than-expected U.S. employment data. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) kept its forecast for China’s GDP growth this year at 4.7% while cautioning that exports from New Zealand's largest trading partner could be “curbed by the newly imposed U.S. tariffs.” At the same time, Chinese imports may fall as production becomes increasingly localized. Among early top movers were Ebos Group (up 3.0%), Serko Ltd. (2.8%), and Fletcher Building (1.6%). In contrast, Vector Ltd. slipped 0.5% following news that its CEO will step down at the end of the year, with the search for a replacement currently underway.
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