NZX 50 Ends Two-Session Losing Streak with Modest Gain

New Zealand's benchmark stock index, NZX 50, rebounded on Wednesday to halt its two-session losing streak.

The index closed at 13,819, a 27-point or 0.2% gain from the previous day, supported by gains in financials, utilities, and communication services sectors.

Moodys' ratings agency continued to support sentiment on New Zealand's economic recovery, but warned that several issues remain unresolved.

The rally was capped by a downbeat session on Wall Street overnight, where rising oil prices amid the escalating conflict in the Middle East raised concerns over inflation and boosted bets that central banks would raise interest rates.