FX.co ★ New Zealand Stocks Snap 3-Session Losing Streak

The NZX 50 rose 35 points, or 0.3%, to 13,052 in Wednesday morning trade, snapping a three-session losing streak and mirroring overnight gains on Wall Street, supported by optimism over US-Iran ceasefire talks. The benchmark rebounded from its lowest level since April 2, hit in the previous session, with healthcare, consumer staples, consumer discretionary, and materials leading the advance.

Upside was limited, however, by Tuesday’s Chinese trade data from New Zealand’s largest trading partner, as mainland exports grew far less than expected. Traders also looked ahead to a raft of Chinese economic releases on Thursday, including Q1 GDP, against a backdrop of rising oil prices.

Early notable gainers included Henderson Far East Income (up 1.8%), Chorus (1.0%), A2 Milk (0.8%), Auckland International Airport (0.5%), and Mainfreight (0.4%).