29.04.202605:51:33UTC+00New Zealand Stocks Edge Up, End 0.1% Higher

The NZX 50 inched up 6 points, or 0.1%, to close at 12,770 on Wednesday, breaking a three-session losing streak after a flat morning session. The move came as the Reserve Bank of New Zealand reaffirmed its commitment to balancing inflation control with support for economic growth. In a speech today, RBNZ Governor Anna Breman noted that core inflation remained steady in Q1, staying within the bank’s 1% to 3% target range.

Upside momentum was limited as investors looked ahead to the US Federal Reserve’s interest rate decision due later in the day, while sentiment was further dampened by an overnight decline on Wall Street, amid signs of softness at OpenAI and a rise in oil prices.

The broader index rebounded from its lowest close since March 30, hit in the previous session, buoyed by strength in healthcare, utilities, financials, and materials. Notable gainers included Fisher & Paykel Healthcare (+1.5%), Contact Energy (+1.0%), Infratil (+0.5%), Turners Automotive Group (+0.5%), and Meridian Energy (+0.4%).