FX.co ★ NZ Stocks Rise After US-China Trade Talks

The S&P/NZX 50 index in New Zealand saw a 0.3% increase, closing at 12,606 on Wednesday, marking the second day of gains. Investors were optimistic due to positive developments in the US-China trade discussions held in London, where officials reported reaching a framework to reinstate their trade agreement outlined last month in Geneva. This includes addressing China's export limitations on rare earth minerals and magnets. In domestic news, New Zealand experienced an 18.8% year-on-year increase in visitor arrivals, totaling 267,271 in April, a significant recovery from an 8.4% decline in March. Within the corporate sector, Fletcher Building experienced a notable 10% surge after announcing "ongoing inbound inquiries" from potential interested parties in its various divisions, notably the construction segment. Additionally, other significant performers included Meridian Energy, which rose by 1.2%; Spark NZ, up 2.9%; Ryman Healthcare, which increased by 2.75%; and Freightways, which saw a 2% rise.