Market close: NZ sharemarket up 1.06%, an all-time high

New Zealand’s NZX sharemarket ended higher on the day, rising 1.06% to an all-time high level. Trading on the main board showed 84 gainers and 53 decliners, with turnover of 38 million shares worth $127.4 million. Investors were balancing optimism with caution ahead of the Reserve Bank of New Zealand’s policy review on Wednesday, where views diverged on the Official Cash Rate (OCR). While the market priced in an 80% chance of a hike, some commentary suggested keeping the cash rate on hold, citing a softer oil price and improved Middle East conditions; ASB expected the RBNZ to hold the OCR at 2.25%. Among notable stocks, Infratil rose 1.98% to $15.42, citing growth in its CDC Data Centres stake valuation to A$9.21 billion. Other movers included Fisher & Paykel Healthcare up to $40.35 and a2 Milk up to $9.35.