23.03.202622:58:43UTC+00New Zealand Stocks Rebound

The NZX 50 rose 53 points, or 0.4%, to 12,953 in Tuesday morning trade, snapping a three-session losing streak as bargain hunters moved in after the index touched a seven-month low. Sentiment was supported by an overnight rally on Wall Street, following U.S. President Trump’s decision to delay military strikes on Iranian power facilities after what he described as “productive conversations” with Tehran. Gains were capped, however, after RBNZ Governor Anna Breman warned that interest rates may need to rise if oil-driven inflation persists amid the Iran conflict. In China, Premier Li Qiang pledged to further open the economy to foreign companies and pursue more balanced trade. Sector-wise, consumer durables, industrial services, and utilities led the advance, with notable strength in Fisher & Paykel Healthcare (up 2.0%), Hallenstein Glasson (1.9%), Property for Industry (1.7%), and Contact Energy (1.3%). Traders are now focused on New Zealand’s March business and consumer confidence data due later this week.