New Zealand stocks rise 128 points, or 0.9%, to 13,974

  • New Zealand stocks rose 128 points to 13,974 on Friday after falling previously.
  • The index gained 0.9%, led by Hallenstein Glasson, Mainfreight and Gentrack Group.
  • Karen Silk said the RBNZ may wait until December before raising rates again.

New Zealand stocks rose 128 points, or 0.9%, to 13,974 on Friday, recovering from the previous session’s losses and lifting the index 1.5% for the week. The advance tracked gains on Wall Street as Treasury yields eased. Assistant Governor Karen Silk indicated the Reserve Bank of New Zealand is more likely to wait until December before raising interest rates again, after increases in July and September, suggesting rates could remain unchanged at its October meeting. Consumer discretionary, technology, financial, real estate and healthcare shares led the market, with Hallenstein Glasson, Mainfreight and Gentrack Group among the strongest gainers. Traders were watching U.S. jobless-rate data, Chinese consumer and producer prices, and August trade figures due next week. New Zealand manufacturing PMI, a survey-based measure of factory activity, is also scheduled for release after activity weakened in July.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.