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30.04.202606:44:19UTC+00NZX 50 Turns Higher, Ends Up 1%

The NZX 50 climbed 133 points, or 1.0%, to finish at 2,903 on Thursday, reversing early losses and adding to gains from the previous session. All sectors closed higher, led by real estate. The broader market followed strength in US futures, buoyed by earnings from several major tech companies.

Sentiment was further supported by manufacturing data from China, New Zealand’s largest trading partner. A private survey showed mainland factory activity expanding at its fastest pace since 2020, while official figures pointed to a slight moderation that nonetheless exceeded expectations.

Investors also responded positively to the Reserve Bank of New Zealand’s move to increase transparency in its monetary policy process, with the central bank beginning to publish individual votes of Monetary Policy Committee (MPC) members from today.

Notable gainers included Contact Energy (up 1.9%), Ebos Group (1.4%), F&C Investment (1.2%), ANZ Group (0.8%), and Fisher & Paykel Healthcare (0.8%). Over the month as a whole, the index was little changed.

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