NZX 50 Index Rebounds on Cooled Inflation Expectations

New Zealand's S&P/NZX 50 index rebounded from a two-day decline after inflation expectations cooled in the Reserve Bank's latest survey of business managers. The news offered some relief that firms may not hike prices following the recent fuel shock.

Mainfreight, Freightways, and Auckland International Airport were among the top performers, while Fisher & Paykel Healthcare rallied as the kiwi dollar followed wholesale swap rates lower.

ANZ Group Holdings led the local bourse higher after reporting a smaller decline in mortgage applications than its rivals. The bank's June quarter cash profit nudged higher as CEO Nuno Matos's transformation programme showed improvements in the lender's operating cost-to-income ratio.