The S&P/NZX 50 index closed 0.7% higher at 13,548 on Friday, marking its highest level in three weeks and notching a sixth straight monthly advance. The index tracked Wall Street’s rally overnight, driven by upbeat US tech earnings. Sentiment was further lifted after US President Trump and Chinese President Xi agreed at Thursday’s summit to extend a tariff truce, ease export restrictions, and lower other trade barriers. Meanwhile, domestic investors looked ahead to next week’s labor market data for further insights into the RBNZ’s next policy move. Most large-cap stocks finished higher, led by Spark NZ (+1.7%), Fisher & Paykel (+1.8%), Auckland Intl Airport (+0.5%), Meridian Energy (+0.3%), and Infratil (+0.4%). Real estate stocks also added to the gains, including Precinct Properties (+0.4%), Kiwi Property (+0.9%), Argosy Property (+0.4%) and Property for Industry (+2.4%). For October, the NZX 50 rose 1.9%, also underpinned by the RBNZ’s recent aggressive rate cut.
