Forex
NZX 50 Surges on Fed Rate Hike Reassurance
The New Zealand S&P/NZX 50 index rose for a second day as investors took heart from the Federal Reserve's interest rate hike, which reassured bond traders that central banks are taking inflation pressures seriously.
Heavyweight companies such as Meridian Energy and Auckland International Airport underpinned the NZX 50's gain ahead of quarterly rebalancing on Friday.
The kiwi dollar rallied from a two-month low against the greenback after Statistics New Zealand figures showed the economy grew at a faster pace than expected in the June quarter.