30.10.202505:20:22UTC+00New Zealand Stocks Extend Gains

On Thursday, New Zealand's key S&P/NZX 50 index advanced 0.4%, closing at 13,459, marking its highest point in almost three weeks. This ascent mirrored the upbeat sentiment across the majority of Asian stock markets, following the US Federal Reserve's widely anticipated decision to reduce interest rates by 25 basis points. Fed Chair Jerome Powell indicated that this might be the final rate cut this year, citing insufficient data due to the ongoing government shutdown. Concurrently, investors remained attentive to developments from the trade discussions between US President Trump and Chinese President Xi. On the domestic front, business confidence in New Zealand surged to its highest level in eight months during October, buoyed by significant monetary easing and expectations for an economic revival. Among the top performers were Fisher & Paykel, up 0.9%, Fletcher Building with a 1.6% increase, Ryman Healthcare gaining 0.7%, Argosy Property rising by 2.0%, and Channel Infrastructure climbing 2.7%.