Blue-chips drive NZX 50 higher; Palantir sets pace for trans-Tasman tech stocks

New Zealand’s S&P/NZX 50 index rose for a second day as heavyweights including Fisher & Paykel Healthcare, Meridian Energy and Infratil powered the benchmark higher, following Wall Street higher in a mixed Asian session.

Trans-Tasman tech stocks were broadly stronger after Palantir Technologies beat expectations when reporting its June quarter earnings after the bell, fuelling gains for the likes of Xero and WiseTech Global in Australia and Gentrack, Serko and Vista Group International in New Zealand.

The kiwi dollar clawed back some of its recent losses against the yen, with speculation the Bank of Japan needs to raise its benchmark interest rate for the Japanese currency to hold its recent gains.

And the Ministry of Business, Innovation and Employment hired Kristy McDonald KC to lead an investigation into culture and workplace conduct at the Financial Markets Authority, after chief executive Samantha Barrass went on leave last week while the board looked into cultural concerns.