New Zealand's benchmark S&P/NZX 50 index advanced 0.3% to close at 13,181 on Wednesday, following the announcement of a new Reserve Bank chief. Finance Minister Nicola Willis named Anna Breman as the next governor of the RBNZ, appointing a woman to the role for the first time. Breman, currently First Deputy Governor of Sweden's Riksbank, will start a five-year term on December 1. The index shrugged off a weak lead from Wall Street overnight, where equities retreated after Federal Reserve Chair Jerome Powell on Tuesday signaled that the central bank would proceed cautiously following last week’s rate cut, as it seeks to balance the risks from a softening labor market with those from inflation. On the corporate front, heavyweights Fisher & Paykel (+1.1%), Infratil (+1.1%), a2 Milk (+1.9%), and Spark NZ (+0.4%) posted solid gains. Other key gainers included Vector (+1.8%), Summerset Group (+0.9%), Air New Zealand (+0.85%), Channel Infrastructure (+1.6%), and Santana Minerals (+2.7%).