31.10.202505:31:07UTC+00New Zealand Stocks Log 6th Month of Gains

On Friday, the S&P/NZX 50 index increased by 0.7%, closing at 13,548, achieving its highest point in three weeks and securing a sixth consecutive monthly gain. Market sentiment improved following the summit between US President Trump and Chinese President Xi, where they agreed to extend a tariff truce, ease export restrictions, and reduce other trade barriers. Domestic investors are now focusing on the forthcoming labor market data, anticipating further insights into the Reserve Bank of New Zealand's upcoming policy decisions. Most major stocks saw gains, with significant increases observed in Spark NZ (+1.7%), Fisher & Paykel (+1.8%), Auckland International Airport (+0.5%), Meridian Energy (+0.3%), and Infratil (+0.4%). The real estate sector also contributed positively, with Precinct Properties (+0.4%), Kiwi Property (+0.9%), Argosy Property (+0.4%), and Property for Industry (+2.4%) showing notable rises. Over the month of October, the NZX 50 experienced a 1.9% increase, boosted by the Reserve Bank of New Zealand's recent substantial rate cut and a heightened appetite for risk.