On Monday, the S&P/NZX 50 benchmark index in New Zealand climbed 0.8% to 12,421 points, achieving a three - day winning streak and closing at a near two - month high. Driven by the strong performance of transportation - related stocks, this sector benefited from the alleviation of concerns about global supply chain disruptions against the backdrop of the easing of Sino - US trade relations.
NZ's S&P/NZX 50 Index Rises to Near Two - Month High
On Monday, the S&P/NZX 50 benchmark index in New Zealand climbed 0.8% to 12,421 points, achieving a three - day winning streak and closing at a near two - month high. Driven by the strong performance of transportation - related stocks, this sector benefited from the alleviation of concerns about global supply chain disruptions against the backdrop of the easing of Sino - US trade relations. Recently, both sides have shown the intention to reach a trade agreement. Although investors remain cautious, the prospect of improved trade flows has bolstered market sentiment, especially for transportation companies closely related to exports.
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Domestically, the market is focused on the upcoming unemployment rate data. It is expected that the data will show an increase in the unemployment rate, which may strengthen the market's expectation for the Reserve Bank of New Zealand to further ease its policy. Among the transportation - related stocks, Mainfreight rose by more than 2%, and Auckland International Airport and Port of Tauranga both increased by over 1%. Other significantly rising stocks include Mercury NZ (+ 1.5%), Fletcher Building (+ 3.2%), Summerset Group (+ 1.8%) and Ryman Healthcare (+ 3%).
The recent performance of the S&P/NZX 50 index indicates a certain degree of optimism in the New Zealand stock market. The improvement in Sino - US trade relations has brought positive impacts to some sectors, especially the transportation sector. However, the upcoming unemployment data may bring new variables to the market. Whether the Reserve Bank of New Zealand will adjust its policy according to the data remains to be seen, which also attracts the attention of investors.
