Broader NZ Market Closes Higher

Index Update: On 30th October 2025, the broader NZ market ended the trading session higher amidst buying in the energy sector. On the same day, S&P/NZX 50 Index witnessed a rise of 0.37% to end at 13,459.290 and S&P/NZX 20 Index rose by 0.38% to close at 7,705.590. Also, S&P/NZX 10 Index encountered an increase of 0.44% to end at 12,820.440. Notably, strong buying was witnessed in the energy sector and S&P/NZX All Energy rose by 2.70%.    

Macro Update: As per the FEU dated 23 October 2025, the series of increases in export values as well as flat-to-falling import values led to the reduction in the annual trade deficit to $2.2 Bn in September. This was lowest since July 2021. Also, the fall in net migration exhibits a record high net outflow of NZ citizens. While the total migrant arrivals are back around the pre-COVID levels, there were 127,900 migrants leaving in August year. Out of these, 73,850 were NZ citizens.  

Market Movers: Among top gainers, ikeGPS Group Limited (NZX: IKE) witnessed a rise of 8.80% to end at $1.175 per share. On the other hand, Savor Limited (NZX: SVR) declined by 9.09% to $0.20 per share.  

Commodity Update: The U.S. dollar weakened on Thursday after the Fed cut interest rates but said another reduction in December was less likely. The greenback’s earlier strength faded during Asian trading. Gold slipped 1.35% to USD 3,946.70 per ounce, silver fell 1.34% to USD 47.26, and copper declined 0.85% to USD 11,065.00. Brent crude eased 0.05% to USD 64.89 as markets awaited U.S.-China trade talks for clarity on growth prospects.  

Source: Trading View, Analysis: Kalkine Group  

Following a brief corrective phase within a well-established broader uptrend marked by a consistent pattern of higher highs and higher lows, the S&P/NZX 50 Index has recently staged a breakout above its 2024 peak at 13,270. This upward breach confirms the continuation of the prevailing bullish structure and signals the potential for renewed upside momentum. Technically, the breakout opens the way for a possible retest of the all-time high at 13,636. Importantly, the former resistance level at 13,270 has now transitioned into a key support zone, which could underpin the next leg of the advance. Moreover, after experiencing a modest pullback, the index is presently rebounding from this newly established support suggests that the broader uptrend remains intact and the overall technical outlook continues positive.  

Our Stance: It could be said that the strong buying in the energy sector somewhat supported the broader NZ market on 30th October 2025. The US Fed announced a rate cut of 25 bps, while saying that, over the near term, the inflation risks are towards the upside. The Chairman hinted that the US Fed might not slash the interest rates again in December. Amidst such uncertainties, the investors are required to be cautious about the risky investments.