The NZX 50 rose 87 points, or 0.6%, to close at 13,618 on Thursday, its first gain in four sessions as broad sector strength lifted the market, led by non-energy minerals, energy minerals, and consumer stocks. Sentiment improved after top trading partner China pledged renewed efforts to stabilize its property sector and optimize housing supply, while unveiling a wide-ranging economic plan despite trimming its 2026 growth target to 4.5%–5%, the first downgrade since 2023. Optimism was further supported by reports of a free trade agreement between Wellington and New Delhi, extending beyond goods into a comprehensive economic partnership. Gains were capped, however, by a pullback in U.S. equity futures following Wall Street’s rally Wednesday on signals that Iran may be open to talks to end the war. Top performers included Gentrack Group (5.1%), Sky Network Television (3.6%), A2 Milk Co (3.2%), and Fletcher Building (2.6%).
