NZX 50 Ends Higher Despite Renewed Inflation Fears

New Zealand's S&P/NZX 50 index staged a late rally to end the day higher, driven by exporters and trade-exposed firms.

The kiwi dollar tumbled against the greenback on renewed inflation fears driving up global bond yields. Fonterra Shareholders' Fund units rallied after the dairy cooperative posted a strong annual profit.

Napier Port Holdings led the index higher, up 3.3% at $3.80, while Port of Tauranga advanced 2.7% to $8.31, and Skellerup gained 2.7% to $7.70.

However, interest-rate sensitive sectors such as commercial landlords and software companies were weaker due to the rise in New Zealand's 10-year government bond to a three-year high.