FX.co ★ New Zealand Shares Muted After Fed Move, Trade Data

In early Thursday trading, New Zealand stocks remained largely unchanged, hovering around the 13,410 mark, following declines in the previous session. Gains recorded in the producer manufacturing and utilities sectors nearly balanced out the losses seen in consumer durables and energy minerals. Investors are evaluating the U.S. Federal Reserve's choice to maintain interest rates at their current level, meeting expectations after three reductions in the previous year. The Fed also expressed a more positive outlook on the economy and labor markets. In domestic news, New Zealand's trade balance for December shifted to a surplus as both exports and imports increased by 15%. Key upcoming economic indicators include the release of January's business confidence report later today, consumer sentiment on Friday, and Q4 labor market data next week. Looking towards China, New Zealand's primary trading partner, the official Purchasing Managers' Index (PMI) for January is scheduled for release over the weekend, following growth reported in both the manufacturing and services sectors. Key stocks on the move included Ryman Healthcare, which rose by 1.4%, Skellerup Holdings by 1.2%, and AFT Pharmaceuticals by 1.1%. Conversely, Tourism Holdings fell by 1.9%, Chorus by 1.0%, and A2 Milk by 0.8%.