08.06.202622:57:25UTC+00NZX 50 Edges Higher in Morning Trading

The NZX 50 rose 23 points, or 0.2%, to 13,061 in Tuesday morning trading, reversing the previous session’s losses but remaining near its lowest level since May 25. The advance was led by materials, consumer discretionary, and energy stocks.

The local benchmark followed gains on Wall Street, where the Nasdaq and S&P 500 moved higher, helped by a rebound in chipmakers after sharp declines in the prior session amid renewed optimism about AI. Sentiment was also supported by easing geopolitical tensions in the Middle East, after both Iran and Israel signaled they had stopped trading strikes.

Nonetheless, traders stayed cautious ahead of China’s trade balance release later today, a key data point for assessing conditions in New Zealand’s largest trading partner. Early notable gainers included AFT Pharmaceuticals (up 1.1%), Auckland International Airport (1.0%), Channel Infrastructure (1.0%), Briscoe Group (0.9%), and Freightways Group (0.8%).