NZ Stocks Flat Amid Oil Price Concerns

New Zealand's stock market traded flat on Tuesday morning, hovering around 13,890. Gains in technology, utilities, and materials sectors were offset by losses in healthcare, energy, and consumer discretionary.

Rising oil prices sparked concerns about the potential impact on interest rates, particularly with the upcoming Federal Reserve meeting. The Fed's monetary policy decision is eagerly awaited, and traders are closely watching US inflation data to be released this week for clues.

Meanwhile, New Zealand's own central bank, the RBNZ, faces uncertainty in its September meeting amid concerns over oil prices and the Strait of Hormuz situation. Contact Energy led the gainers with a 1.6% increase, while Fisher & Paykel and EBOS Group fell by 0.9% and 0.7%, respectively.