New Zealand's benchmark S&P/NZX 50 index rose 0.5% to close at 12,834 on Thursday, with gains seen across nearly all sectors. The index also tracked Wall Street’s overnight rally, fueled by expectations that the US Federal Reserve could cut interest rates in September following tame CPI data, with Treasury Secretary Scott Bessent noting there is a good chance the central bank will opt for a 50bps reduction. Domestically, the Reserve Bank of New Zealand is widely expected to lower its cash rate by 25bps next week, with markets anticipating one more cut later this year or early next. In corporate news, New Zealand-listed shares of Westpac surged 6.45% to the highest level in more than a decade after posting a steady growth in quarterly profit. Peer ANZ Group added 2.3%. Other notable gainers included a2 Milk (+2.4%), Port of Tauranga (+1.3%), Ryman Healthcare (+1.3%), Freightways (+3.6%), and Kiwi Property (+1.5%).