The NZX 50 rose 41 points, or 0.3%, to 13,586 in Tuesday morning trade, extending gains from the previous session and hitting its highest level since March 2, tracking a rally on Wall Street overnight as traders reassessed the AI trade following the recent selloff while US-Iran tensions eased.
The broader index was mainly supported by gains in the technology, utilities, financials, and consumer staples sectors.
However, traders were cautious ahead of the release of New Zealand's consumer and business confidence data for June, due later this week, as well as China's PMI data and US jobs data for June, which will help gauge the economic outlook in the world's largest and second-largest economies.
Among early gainers were Gentrack Group (1.3%), A2 Milk (1.1%), F&C Investment (1.0%), Contact Energy (1.0%), Skellerup Holdings (0.8%), and South Port NZ (0.7%).