FX.co ★ New Zealand Stocks Snap 2-day Retreat

On Thursday, New Zealand's key S&P/NZX 50 index surged by 2.1%, closing at 12,149, effectively breaking a two-day losing spell as concerns over the trade war began to ease. Reports suggested that the Trump administration was nearing the unveiling of initial agreements to lessen planned tariffs on certain nations. Concurrently, China was believed to have prepared a list of U.S-manufactured goods exempt from its 125% retaliatory tariffs, signaling a move to reduce tensions without making overt concessions. Most large-cap stocks experienced significant gains. Among them, medical-device manufacturer Fisher & Paykel rose by 2.4%, and pharmaceutical distributor Ebos Group increased by 1.3%. Utility companies like Meridian Energy, Mercury NZ, and Contact Energy saw increases of 2.7%, 3.4%, and 3.3%, respectively. The infrastructure investment firm Infratil saw a 3.5% rise, dairy producer A2 Milk improved by 3.3%, and telecommunications firm Spark NZ went up by 1.2%. Additionally, property stocks contributed positively to this upward trend.