08.10.202523:06:50UTC+00New Zealand Shares Notch Another Record Peak

New Zealand's stock market climbed 48 points, or 0.3%, reaching a new record high of 13,614 during Thursday morning's trading session. This marks the third consecutive day of gains, driven by widespread strength across sectors, with notable contributions from industrial services, healthcare, and communications. Investor optimism was bolstered by the Reserve Bank of New Zealand's unexpected decision to cut interest rates by 50 basis points, alongside indications of further monetary easing to invigorate the sluggish economy. Internationally, the Nasdaq set a new record on Wednesday following the release of FOMC minutes, which revealed that a majority of U.S. Federal Reserve officials are in favor of rate cuts this year due to a weakening labor market and diminishing inflationary threats. In China, a key trading partner, financial markets are anticipated to reopen later today after a week-long holiday, which could inject additional momentum. Nevertheless, gains were tempered by persistent global challenges, such as the ongoing U.S. government shutdown and escalating political risks in Europe. Among notable performers, T&G Global saw a 5% increase, while Ryman Healthcare rose by 3.9%, Spark NZ by 2.3%, and PGG Wrightson by 1.7%.