The NZX 50 rose 31 points, or 0.2%, to 13,102 in morning trade on Thursday, hitting its highest level since January 17. It extended gains from the previous session, as hopes of a further interest rate cut this year continued to lift sentiment following Wednesday's 25 bps reduction. A statement from RBNZ Governor Hawkesby to a parliamentary committee today also supported sentiment. He said the central bank expects New Zealand's economy to start improving. However, a downbeat session on Wall Street overnight capped the gains, as tech stocks continued to fall. Traders also looked ahead to Jerome Powell's upcoming Jackson Hole speech for guidance on the Fed’s monetary policy stance ahead of the September meeting. On the data front, New Zealand unexpectedly posted a trade gap in July, missing forecasts for a small surplus. All sectors traded in the green, led by tech, with notable gains from Vista Group (1.6%) and Gentrack Group (1.5%), while Mainfreight and Fisher & Paykel each rose 0.8%.