NZX 50 Rallies on Soft Aussie Inflation

New Zealand's S&P/NZX 50 index rose 1.1% to 13,834.39 on Wednesday, its second quarterly gain this year.

The rally was largely driven by softer-than-expected inflation in Australia, which led traders to pare back their bets that the Reserve Bank of Australia will hike its cash rate again next month.

Hallenstein Glasson Holdings was the strongest performer in the quarter, jumping 48% and touching new all-time highs after reporting a strong annual result.

Ryman Healthcare dropped 18% and Summerset Group Holdings sank 14%, as the retirement village sector came under pressure from rising interest rates and a soft housing market.