FX.co ★ Kiwi Stocks Poised for 3rd Straight Weekly Rise

In Friday morning trading, New Zealand's stock market experienced an uptick, with shares increasing by 55 points, or 0.4%, to reach 13,715. This rebound comes after a decline in the previous session, largely attributed to Wall Street's recovery on Thursday, driven by robust earnings reports from U.S. banks and gains in the tech sector. The local market appears poised for a fourth consecutive week of advances, albeit modest ones. This positive trend is supported by local data indicating that factory activity in December saw its most significant growth in three years, marking the third straight month of expansion. Additionally, food inflation has decreased to 4% from 4.4% in December, the lowest rate since April, providing further positive momentum. Nonetheless, market gains were restrained by investor caution in anticipation of pivotal data from China, New Zealand's chief trading partner, expected next week. This data will include China's Q4 GDP figures and December activity reports, alongside New Zealand's own Q4 CPI figures, following a Q3 peak of 3.0% over five quarters. Broad sector gains were seen, particularly in energy minerals, financials, and healthcare sectors. Prominent movers comprised Summerset Group Holdings, up 1.8%, Property for Industry, rising 1.7%, EBOS Group, increasing 1.6%, and Vector Ltd., which gained 1.2%.