NZX50 edges higher in subdued holiday trading
New Zealand’s S&P/NZX 50 index staged a late recovery, buoyed by heavyweights Fisher & Paykel Healthcare, Ebos Group and Contact Energy, to end the session in positive territory, with Auckland anniversary and Australia Day public holidays keeping trading volumes light.
Stock markets across Asia were subdued as Japan’s Nikkei tumbled amid growing speculation authorities will intervene in currency markets after prime minister Sanae Takaichi warned her administration will respond to abnormal moves after a sharp spike in government bond yields and a slump in the yen.
Meanwhile, mining stocks across Asia rallied as gold futures burst through the US$5,000 mark, with Manuka Resources, New Talisman Mines and Minerals Exploration among the local junior miners to gain.
Still, Santana Minerals closed at a two-week low amid fears a decision on consenting its proposed open cast mine near Cromwell in Central Otago might face delays, even on the fast-track process.
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