During Friday's morning trading session, New Zealand shares displayed marginal movement, staying roughly at 12,308 after experiencing a minor decline the previous day. Declines in sectors such as non-energy minerals, consumer durables, and process industries counterbalanced the advances seen in healthcare and utilities. Investors considered new data indicating that New Zealand's consumer sentiment had reached a five-month low in March, fueled by concerns over the economy's slow pace. The attention shifted to the impending release of the US Personal Consumption Expenditures (PCE) inflation data slated for later today, alongside New Zealand's upcoming business confidence metrics. Traders were also vigilant about China's Purchasing Managers' Index (PMI) data, anticipated from both official and private entities shortly. Despite mixed market signals, the NZX 50 appears poised for its first weekly rise in six weeks, showing an approximate 1.5% increase thus far. This uptick is bolstered by expectations that the Reserve Bank of New Zealand (RBNZ) will persist with monetary easing measures, potentially implementing three interest rate cuts this year, amid a backdrop of mild inflation. Among individual stocks, Gentrack Group surged by 6.0%, and Ryman Healthcare rose by 3.2%, whereas AFT Pharmaceuticals and Serko Ltd. each experienced declines of 2.3% and 2.1%, respectively.
The material has been provided by InstaForex Company - www.instaforex.com
RobotFX
No comments:
Post a Comment