FX.co ★ Bullish Momentum Continues in New Zealand Equities

New Zealand's stock market experienced a rise of 70 points, or 0.6%, reaching 12,255 during early trading on Wednesday. This marked the fifth consecutive day of gains and the highest level in a week. The sectors leading this upward trend included healthcare, energy minerals, non-energy minerals, and utilities, buoyed by signs of domestic recovery. This recovery follows Wellington's exit from a recession in the fourth quarter of 2024, which was supported by reduced interest rates and sectoral expansion. Investor sentiment was further bolstered by S&P Global Ratings' projection that New Zealand, along with several other regional countries, would experience less impact from US-imposed tariffs. Meanwhile, on Wall Street, stocks closed higher on Tuesday as trade tensions eased, following US President Trump's indication of possible tariff exemptions prior to the April 2 deadline. In Australia, the government introduced the 2025 federal budget on Tuesday, which emphasizes relief from living costs and enhancing economic resilience amidst worldwide uncertainties. Among the standout stocks were Ryman Healthcare, which rose by 2.8%, Delegat Group Ltd., with a 1.1% increase, Freightways Group at 0.9%, and Meridian Energy, climbing 0.8%.