New Zealand Stocks Poised for Weekly Loss

The NZX 50 slid 98 points or 0.7% to end at 13,519 on Friday, reversing gains in the prior session as most sectors fell, notably financials, healthcare, and non-energy minerals. Sentiment weakened amid growing worries that the U.S.-Israel war on Iran could drag on, now in its seventh day. Markets fell 1.5% for the week, pointing to the first decline in three weeks, following a slightly lower 2026 GDP growth target of 4.5%–5% in top trading partner China and uncertainty over its consumption strategy. While Beijing’s draft five-year plan outlines a shift toward rebalancing, it provides no explicit target for the share of Chinese GDP. Vigilance also grew ahead of key releases next week in the mainland, including February inflation and combined January–February trade data. Locally, Q4 manufacturing sales, February PMI, and January visitor arrivals are also due. Among steep decliners were Scott Tech. (-3.9%), Delegat Group (-2.5%), PGG Wrightson (-2.3%), and Sanford Ltd. (1.9%).

Equities in New Zealand fell 98 points, or 0.7%, to 13,521 in the morning session on Friday, erasing gains from the prior session following losses on Wall Street Thursday, as the Middle East conflict entered its seventh day, lifting oil prices and fueling inflation worries alongside uncertainty over U.S. Federal Reserve rate cuts. Sentiment was also cautious ahead of key releases next week from top trading partner China, including February inflation and combined January–February trade data. Locally, Q4 manufacturing sales, February PMI, and January visitor arrivals are also due. Most sectors in the NZX 50 traded lower, led by transport, healthcare, and non-energy minerals, though logistics and electronic technology posted gains. Early laggards included Scott Technology (-4.6%), Tourism Holdings (-2.4%), PGG Wrightson (-2.3%), and Colonial Motor (-2.2%). For the week, the NZ market is on track for its first decline in three weeks, down about 1.4% so far.

The NZX 50 rose 87 points, or 0.6%, to close at 13,618 on Thursday, its first gain in four sessions as broad sector strength lifted the market, led by non-energy minerals, energy minerals, and consumer stocks. Sentiment improved after top trading partner China pledged renewed efforts to stabilize its property sector and optimize housing supply, while unveiling a wide-ranging economic plan despite trimming its 2026 growth target to 4.5%–5%, the first downgrade since 2023. Optimism was further supported by reports of a free trade agreement between Wellington and New Delhi, extending beyond goods into a comprehensive economic partnership. Gains were capped, however, by a pullback in U.S. equity futures following Wall Street’s rally Wednesday on signals that Iran may be open to talks to end the war. Top performers included Gentrack Group (5.1%), Sky Network Television (3.6%), A2 Milk Co (3.2%), and Fletcher Building (2.6%).