11.11.202622:53:28UTC+00New Zealand Stocks Extend Record High.

The NZX 50 rose 58 points, or 0.4%, to a new record high of 14,238 in Thursday morning trading, extending a two-session winning streak and mirroring an overnight rally on Wall Street. Sentiment was buoyed by renewed optimism toward AI-related stocks after strong earnings from CoreWeave.

Gains were broad-based, with nearly all sectors in positive territory, including consumer staples, energy, industrials, and financials. However, advancing oil prices weighed on the outlook as inflation worries resurfaced and expectations for further interest rate hikes strengthened amid ongoing tensions in the Middle East.

Investors also continued to track coalition negotiations and looked ahead to the final election results due in November 2027. On the macroeconomic front, annual growth in New Zealand’s visitor arrivals quickened to 9.8% in September from 8% in August, even as electronic card transactions declined again on a monthly basis.

Leading gainers included Mainfreight (up 5.9%), A2 Milk (1.9%), F&C Investment (1.8%), Freightways Group (1.8%), Infratil (1.6%), and EBOS Group (1.4%).