NZX 50 Rallies as Fed Hike Boosts Investor Confidence

New Zealand's S&P/NZX 50 index rose this week as investors were reassured by the US Federal Reserve's focus on taming inflation after its interest rate hike.

The local bourse was weaker in Friday trading, with stronger domestic growth than anticipated firming up expectations for the Reserve Bank to lift the official cash rate without stifling the recovery.

Vista Group International and Gentrack were two of the strongest performers for the week, while Serko lagged behind with its second weekly double-digit decline in a row.