NZ Stocks Defy Global Trends as US Fed Hikes Rates

New Zealand's stock market defied global trends on Thursday, rising by 0.98% despite the US Federal Reserve's first interest-rate hike in over three years.

The Fed's quarter-point increase was expected to have a ripple effect across markets, but New Zealand's economy appears more resilient than its counterparts.

Economic indicators released recently show that the country's growth remained steady at 0.2% in the June quarter, and job ads are up both from July and from last year.

A key factor contributing to Santana Minerals' recent performance is its impending addition to the VanEck Junior Gold Miners ETF. As part of the fund's semiannual rebalance, Santana Minerals will join the index at Friday's close.