New Zealand shares were little changed on Tuesday morning, as gains in healthcare and communications offset losses in logistics and consumer sectors.
Investors digested mixed April data from China—New Zealand’s top trading partner—with industrial output growing at a slower pace but beating consensus, while retail sales rose less than expected.
Traders also assessed renewed cost pressures in the Pacific nation, as producer input and output prices saw their steepest rise in near three years.
Attention also turned to Australia, where the central bank is set to announce its interest rate decision later today after holding rates steady for three straight meetings.
Meanwhile, U.S. futures were flat after the S&P 500 extended its winning streak to six sessions ahead of remarks from Fed officials.
Among early gainers were Meridian Energy (2.1%), Spark NZ (2.1%), and Ryman Healthcare (1.7%), while Restaurant Brands NZ (-3.3%), Sky Network TV (-2.0%), and Port of Tauranga (-1.8%) led the losses.