Over the past year, investors in the Australia and New Zealand markets grappled with finding the balance between global uncertainty and domestic growth opportunities, according to the region’s sell-side research firms.

The markets have been increasingly impacted by both geopolitical tensions and more rapid realization of potential AI impacts across the economy, according to Marcus Curley and Kieren Chidgey, Co-Heads of Research for Australia and New Zealand.

This environment has made the work of research teams more paramount. “Leveraging the strength and breadth of UBS’ global research platform has enabled our team to provide valuable and timely insights to clients on how these global themes impact our domestic markets,” they wrote in a statement to Extel.

The past year has been defined by a push-and-pull between global uncertainty and domestic resilience, confirmed Jason Steed, head of Equity Research, J.P. Morgan for Australia and New Zealand.

“In Australia, the interest rate outlook dominated investor attention, while commodity markets, particularly in critical minerals and energy, were shaped by shifting global supply chains and geopolitical dynamics,” he said. “New Zealand faced its own recalibration, with monetary policy easing providing a catalyst for renewed focus on domestic cyclical and growth opportunities. Across both markets, geopolitical complexity, especially evolving trade dynamics and broader tensions in the region, added another layer of volatility that investors had to wrestle with.”

As investors found their footing in the region, they once again looked to a familiar group of top sell-side equities research teams for their ability to deliver high-quality insights that support the provision, acquisition and consumption of research advisory services across the Australia and New Zealand equity markets, according to the results of Extel’s second annual standalone ranking.