FX.co ★ New Zealand Stocks Set to Log Second Straight Weekly Gains

New Zealand shares experienced a significant increase, rising by 124 points, or 1.0%, to reach 12,591 in early trading on Friday. This uptick marks a reversal of losses incurred in the previous session, pushing the index to its highest level in two months. Market sentiment improved following a positive lead from Wall Street, attributed to President Trump's announcement of a trade agreement with the UK and his indication that tariffs on Chinese imports might be reduced, contingent on the successful progression of forthcoming negotiations. Domestically, focus shifted toward the anticipated 2025 budget, with Prime Minister Luxon indicating that capital expenditures are poised to exceed previous estimates. Every sector participated in the upswing, with Third Age Health Services, Fisher & Paykel Healthcare, and Auckland International Airport witnessing appreciable gains of 2.2%, 2.1%, and 1.8%, respectively. For the week, the NZX 50 benchmark is set to record its second consecutive weekly gain, having risen approximately 2% thus far. Nevertheless, potential for further rises was tempered by investor wariness ahead of critical data from China, including trade statistics expected later today and inflation figures (CPI/PPI) anticipated over the weekend.