2026.02.0222:50:18UTC+00New Zealand Equities Edge Up in Morning Trade

The NZX 50 index advanced by 37 points, equivalent to a 0.3% increase, reaching 13,450 in early trading on Tuesday. This upward movement halted the losses seen in the previous session and followed a rally on Wall Street overnight. Investors are now focusing on the earnings season, with technology stocks spearheading the gains. The market sentiment received a further boost from encouraging data out of China, New Zealand's primary trading partner. According to a private survey, China's manufacturing sector grew at its fastest pace in three months. Most sectors, including financials, consumer discretionary, technology, and communication services, traded positively. However, market participants are keeping a close watch on the upcoming release of U.S. employment figures later this week, along with domestic unemployment statistics for the December quarter. The market anticipates the unemployment rate to remain at its highest since the fourth quarter of 2016, at 5.3%. Amongst individual stocks, Briscoe Group saw an increase of 1.6%, Colonial Motor rose by 1.2%, Westpac Banking Corporation climbed 1.0%, A2 Milk advanced 0.7%, and Fisher & Paykel grew by 0.6%.