FX.co ★ New Zealand Stocks Gain for 2nd Session

On Thursday, New Zealand's S&P/NZX 50 index increased by 0.5% to close at 12,018, achieving consecutive sessions of market gains. This upward trend mirrored the positive rallies seen on Wall Street, spurred by optimism surrounding potential de-escalation in the U.S.-China trade conflict. The Trump administration is contemplating a reduction in tariffs on Chinese imports, subject to negotiating terms with Beijing. Furthermore, President Trump assured that Federal Reserve Chairman Jerome Powell would not be dismissed from his position, which bolstered confidence. Domestically, upbeat economic indicators contributed to the optimistic market sentiment. The ANZ-Roy Morgan Consumer Confidence Survey indicated that consumer confidence rose to its highest level in four months in April, reaching 98.3 from 93.2 in March, which strengthened the prevailing positive trend. Utility stocks stood out among the leaders in gains, with Meridian Energy rising by 2.5%, Mercury NZ by 1.8%, and Manawa Energy by 5.1%. Additionally, the transport and logistics sector showed enhancements, highlighted by increases in Mainfreight's shares by 3.5%, Port of Tauranga by 1.8%, and Freightways by 0.3%.