The NZX 50 advanced 50 points, or 0.4%, to close at 13,254 on Wednesday, reversing morning weakness, extending gains from the previous session, and reaching its highest level since May 7, mainly buoyed by communication services, energy, and consumer discretionary stocks. The latest data from China also lifted sentiment, as consumer inflation remained steady, albeit slightly below expectations, while producer prices rose at their fastest pace in nearly four years amid rising oil prices. However, traders remained cautious ahead of US inflation data, which could guide the Federal Reserve's monetary policy at its upcoming meeting. Meanwhile, accelerating oil prices limited gains after the US military reportedly launched strikes against Iran in retaliation for the downing of an American helicopter. Among the top performers were A2 Milk (2.9%), Skellerup Holdings (2.3%), South Port NZ (2.3%), Freightways Group (2.2%), Fisher & Paykel (1.0%), Chorus (0.9%), and Port of Tauranga (0.9%).