11.02.202623:03:35UTC+00New Zealand Stocks Climb to 3-Week High Ahead of PMI Data

New Zealand shares rose 71 points, or 0.5%, to 13,578 in Thursday morning trade, rebounding from a subdued close as gains in producer manufacturing, financials, and healthcare improved sentiment. The benchmark index reached a three-week high, underpinned by optimism that December’s strong economic momentum will extend into January ahead of upcoming PMI releases. Attention is also turning to next week’s central bank meeting, where policymakers are widely expected to leave the cash rate unchanged, though a hike later in 2026 remains possible.

Upside was capped, however, by a lackluster session on Wall Street on Wednesday, as earlier enthusiasm over robust January U.S. jobs data waned amid pressure on software and other rate-sensitive stocks. Meanwhile, fresh data from China, New Zealand’s largest trading partner, showed a sharp slowdown in consumer inflation in January and ongoing factory-gate deflation. Among notable movers, Skellerup Holdings gained 2.9%, Delegat Group advanced 2.3%, T&G Global rose 1.9%, and Fisher & Paykel Healthcare added 1.4%.