New Zealand equities rose 20 points, or 0.2%, to 13,370 in Wednesday morning trade, attempting to recover from steep losses in the prior session. Gains were led by consumer durables, transport, and non-energy minerals, as traders looked past Wall Street’s slump on Tuesday and focused on hopes that the RBNZ may further cut borrowing costs later this month amid mild inflation. In China, New Zealand’s largest trading partner, the PBoC will review key lending rates on Thursday, with record-low levels expected to be extended. Turning to local data, Q3 producer input and output prices continued to rise, while October’s composite PMI hit a three-month high on resilient manufacturing. However, upside remained limited by growing caution ahead of Nvidia’s earnings later today and key U.S. labor data this week, as well as renewed geopolitical tensions after China declined a G20 meeting with Japan over Taiwan. Notable movers included Delegat Group (3.2%), Napier Port (2.3%), and T&G Global (2.2%).