FX.co ★ New Zealand Stocks Trade Higher to Kick off Week

New Zealand's equity markets experienced an uptick on Monday morning, climbing 38 points, or 0.3%, to reach 12,643. This marks the second consecutive session of gains, and the highest level since February 21. The NZX 50 mirrored a surge in U.S. stock futures, buoyed by encouraging developments in trade discussions between the U.S. and China, following productive talks over the weekend in Switzerland. U.S. Treasury Secretary Scott Bessent indicated that further details would be disclosed during a briefing later in the day. However, China's economic data released on Saturday put a damper on gains. The data showed that consumer prices fell in New Zealand's chief trading partner for the third month in a row, and producer prices experienced their most significant decline in six months, underscoring continued weak consumption on the mainland. The rally in the index was primarily driven by the energy, financials, communication services, and consumer discretionary sectors. Notable rises included Mainfreight at 2.9% and Ebos Group at 1.5%, while ANZ Group, Auckland International Airport, and F&C Investment Trust PLC each advanced by 1.0%.