The S&P/NZX 50 index climbed 0.9% to close at 13,194 on Thursday, extending rally from day before and marking its highest close since the end of December. Sentiment remained buoyant after the Reserve Bank of New Zealand cut interest rates on Wednesday and flagged further easing. In economic news, New Zealand’s trade deficit narrowed to NZD 578 million in July from NZD 1,022 million in the same month last year, as exports (10%) rose much faster than imports (2.3%). Investors globally now shift their focus to US Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium for clues on US policy. On the corporate front, shares of Skellerup surged 6.4% after posting another record profit. Heavyweights Fisher & Paykel (+2.1%), Mercury NZ (+2.9%), Ebos Group (2.5%), and a2 Milk (+3.5%) were also among the key gainers. Conversely, Auckland Intl Airport lost 0.6% despite reporting an increase in net underlying profit.