New Zealand stocks close 0.5% higher at 13,888 as softer U.S. labor data boosts sentiment

New Zealand's stock market rose 64 points, or 0.5%, to close at 13,888 on Monday, ending a two-session losing streak as softer-than-expected U.S. labor data lifted risk appetite and reduced expectations of a Federal Reserve rate increase at the September meeting. Gains were led by healthcare, financials and industrials, while positive trade data from China, New Zealand's top trading partner, added support as export growth remained robust and inflation eased to a six-month low. Investors stayed focused on U.S. inflation data due this week for further clues on the Fed's next monetary policy decision. Higher oil prices limited the advance amid uncertainty over whether to reopen the Strait of Hormuz. Among the session's top performers were Ryman Healthcare, Infratil, Ebos Group, Fisher & Paykel, F&C Investment, Hallenstein Glasson and Mainfreight.

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