New Zealand shares ended higher on Tuesday as most Asian markets saw gains following a Monday rally in Wall Street shares.
The S&P/NZX 50 Index rose 0.93% or 128.53 points to close at 13,903.46.
On Monday, the Nasdaq Composite gained 2.1%, the S&P 500 added 1.5% while the Dow Jones increased by 1.3%.
"Risk markets have clearly turned a corner. If the constructive tone from European and U.S. equity markets carries through, buyers should emerge early in the session and provide support for regional risk assets," said Chris Weston, head of research at Pepperstone Group in Melbourne, as quoted by Reuters.
On the domestic front, data shows consumer credit performance in New Zealand is continuing to improve, with consumer arrears falling to their lowest level since 2021 in June and residential mortgage arrears reaching their lowest point since December 2022, Centrix said in the July Credit Indicator report.
Also, ANZ overall card spending showed a 0.5% lift in July in New Zealand, on a seasonally adjusted basis, with annual growth lifting to 6.1% from 5.8%, according to a report from the bank.
In corporate news, Air New Zealand (ASX:AIZ, NZE:AIR) group capacity rose 1.3% year on year in June.