FX.co ★ New Zealand Shares Extend Gains

On Thursday morning, the NZX 50 increased by 75 points, or 0.6%, reaching 12,569, marking gains for the second consecutive session. This rise was driven by robust performances in the logistics, non-energy minerals, and healthcare sectors. The index achieved its highest level in a week, countering a mixed performance from Wall Street on Wednesday, as investors anticipated developments in trade and reacted to weaker-than-expected U.S. employment figures. Meanwhile, the Organisation for Economic Co-operation and Development (OECD) maintained its forecast for China's GDP growth this year at 4.7%. However, it warned that exports from New Zealand's largest trading partner might be "curbed by the newly imposed U.S. tariffs." Additionally, Chinese imports could see a decline due to increased localization of production. Leading the early movers were Ebos Group, up by 3.0%, Serko Ltd. with a 2.8% increase, and Fletcher Building, gaining 1.6%. Conversely, Vector Ltd. decreased by 0.5% following the announcement that its CEO plans to step down by year-end, with a search for a successor already in progress.