FX.co ★ NZX 50 Closes at Over 3-Month High

New Zealand's leading S&P/NZX 50 index increased by 0.6% to reach 12,677 on Monday, marking its highest closure since mid-February. This rise was driven by positive sentiment following trade discussions between the US and China, which buoyed global market confidence. Investors are now keenly awaiting more details after the weekend negotiations in Geneva, where US officials mentioned an agreement aimed at reducing the trade deficit, while Chinese delegates highlighted a significant consensus and the initiation of a new economic dialogue. Nonetheless, the gains faced constraints due to weak economic data from China released on Saturday, indicating ongoing deflationary trends and signaling subdued domestic demand in China, New Zealand's principal trading partner. In the stock market, the health sector emerged as the strongest performer, advancing over 2%, with Summerset Group increasing by 1.6%, Ryman Healthcare climbing 1.7%, and Oceania Healthcare advancing by 3.1%. Notable contributors to the gains also included Contact Energy (+2.3%), Mainfreight (+4.8%), and Manawa Energy (+2.9%).