New Zealand’s benchmark S&P/NZX 50 index rose 0.5% at 13,672, wiping out earlier losses to hit a record high close. The local market mirrored gains across most Asian equities, as investor sentiment was lifted by hopes that the US government shutdown could soon end, alongside a weak US jobs data that raised expectations of a Federal Reserve interest rate cut in December. Leading the gains were heavyweight stocks including Fisher & Paykel (+0.5%), Meridian Energy (+0.5%), Infratil (+0.6%), Contact Energy (+0.8%), and Spark NZ (+0.4%). Other notable performers included Fletcher Building (+0.85%), Summerset Group (+2.35%), Genesis Energy (+1.6%), Kiwi Property (+0.5%), Heartland Group (+0.9%), and SkyCity Entertainment (+2.6%).
