25.08.202523:00:18UTC+00New Zealand Shares Subdued

In early trading on Tuesday, New Zealand's stock market showed little movement, stabilizing around the 13,079 mark following a modest increase in the previous session. Gains in sectors such as communications and industrial services nearly balanced out the declines seen in non-energy minerals and healthcare. Investors continued to evaluate the potential for U.S. Federal Reserve interest rate cuts amidst ongoing concerns about the labor market, while also taking into account domestic economic prospects after Prime Minister Christopher Luxon expressed criticism over the Reserve Bank of New Zealand's cautious approach. This comes even as borrowing costs have been easing gradually from 5.5% since last August. Meanwhile, on Wall Street, stocks ended Monday lower, as investors opted to secure their gains ahead of Nvidia's earnings report and the Federal Reserve's favored measure of inflation. In China, which is a key trading partner, data on industrial profits for January through July is expected later this week, with current sentiments being negatively impacted by trade barriers, weak demand, and recent unfavorable weather conditions. In the domestic market, shares of Genesis Energy fell by 2.1%, T&G Global decreased by 1.9%, and AFT Pharmaceuticals dropped by 1.5%, while Scott Technology rose by 2.4%, Vista Group increased by 1.9%, and Mainfreight grew by 1.8%.