Image Source : Krish Capital Pty Ltd
Index Update: On 17th February 2025, NZX 50 Index ended the trading session higher, with S&P/NZX 50 Index witnessing an increase of 0.61% to end the session at 13,068.930. On the same day, S&P/NZX 20 Index encountered a rise of 0.81% to 7,857.170 and S&P/NZX 10 Index fell by 0.28% to 13,072.380. Notably, significant buying was encountered in the consumer staples sector and S&P/NZX All Consumer Staples rose by 14.01% to 3,192.850.
Macro Update: As per Stats NZ, overseas visitor arrivals to NZ totaled 3.3 million in the December 2024 year. This was up 357,000 (or 12%) from December 2023 year. Notably, Australia led the increase in visitor arrivals, reflecting a rise of 127,000 (or 10%) from 2023. China followed with an increase of 97,000 (or 64%), and the US with an increase of 32,000 (or 10%). In the December 2024 month, there were 469,800 overseas visitor arrivals, reflecting a rise of 51,000 (or 12%) from 418,900 in December 2023.
Top Market Movers: Among top gainers, Bremworth Limited (NZX: BRW) witnessed an increase of 20.41% to end the session at $0.59 per share. On the other hand, Westpac Banking Corporation (NZX: WBC) declined by 6.36% to $36.05 per share.
Commodity Update: The Japanese yen strengthened on Monday, driven by positive GDP data, while the Australian and New Zealand dollars remained steady ahead of upcoming policy decisions. The U.S. dollar weakened as traders assessed disappointing economic data, fueling expectations for more Federal Reserve rate cuts this year. In commodities, gold rose 0.32% to $2910.42, silver dropped 0.17% to $32.79, and copper gained 0.29% to $9500.10. Brent oil fell 0.20% to $74.59, amid speculation that a potential Russia-Ukraine peace deal could ease sanctions and disrupt global supply. In contrast, global tariff tensions raised concerns over slowing economic growth and energy demand.

Source: Trading View, Analysis: Kalkine Group
In July 2024, the S&P/NZX 50 index surpassed both the neckline of a Head and Shoulders pattern on the daily chart and a key resistance level marked by its 2023 high. This breakout indicates that the uptrend, which started in November 2023, is likely to persist and could push the index toward its historical peak from 2021. Despite the ongoing correction, the index continues to establish higher highs and higher lows, confirming the prevailing uptrend. Meanwhile, the 14-day Relative Strength Index (RSI) is heading north from its midpoint, reflecting positive market sentiment in the short-term.
Our Stance: It could be said that the broader NZ market was supported by the robust buying in the consumer staples sector on 17th February. As of now, the global investors are optimistic about the US Fed’s rate cut plans as a result of the new inflation data. Moving forward, the markets are expected to be influenced by the minutes of Fed's January FOMC meeting and S&P flash U.S. manufacturing PMI data. While minutes will be released on 19th February, manufacturing data will be out on 21st February. These indicators can provide a broader overview of the health of US economy.






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