Forex
NZX 50 Soars as Rate Hike Expectations Ease
New Zealand's S&P/NZX 50 benchmark index rose in the final day of September due to softer-than-expected inflation in Australia, which reduced expectations for a Reserve Bank of Australia rate hike next month.
The NZX 50 gained 1.1% to reach 13,834.39, marking its second quarterly increase and taking its quarterly gain to 1.6%. The index had dipped 0.6% in September, ending four months of gains.
Hallenstein Glasson Holdings was the strongest performer, jumping 48% and reaching new all-time highs after reporting a strong annual result. Other strong performers included Fonterra Shareholders' Fund units and SkyCity Entertainment Group, which climbed 24% each.