NZX 50 Extends Losses, Closes Down 0.1%

2026-05-13 05:54 By Chusnul Chotimah 1 min. read

The NZX 50 fell 17 points, or 0.1%, to close at 13,063 on Wednesday, retreating for the second straight session and tracking declines on Wall Street overnight, as a faster-than-expected inflation reading amid higher oil prices raised concerns that the Fed will not cut rates this year.

Fresh data also pressured sentiment, with business inflation expectations accelerating to 2.53% in Q2, marking the fastest increase since Q4 2023.

Traders also remained cautious ahead of the release of New Zealand's food inflation data and manufacturing PMI, both due later this week.

Markets will also monitor developments surrounding a potential meeting between US President Trump and Chinese President Xi Jinping later this week.

Technology stocks, communication services, and financials mainly dragged the index lower, with notable losses from AFC Pharmaceuticals (-6.7%), Westpac Banking Corp.

(-4.5%), ANZ Group (-2.6%), Infratil (-1.5%), and Auckland International Airport (-1.3%).



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NZX 50 Extends Losses, Closes Down 0.1%
The NZX 50 fell 17 points, or 0.1%, to close at 13,063 on Wednesday, retreating for the second straight session and tracking declines on Wall Street overnight, as a faster-than-expected inflation reading amid higher oil prices raised concerns that the Fed will not cut rates this year. Fresh data also pressured sentiment, with business inflation expectations accelerating to 2.53% in Q2, marking the fastest increase since Q4 2023. Traders also remained cautious ahead of the release of New Zealand's food inflation data and manufacturing PMI, both due later this week. Markets will also monitor developments surrounding a potential meeting between US President Trump and Chinese President Xi Jinping later this week. Technology stocks, communication services, and financials mainly dragged the index lower, with notable losses from AFC Pharmaceuticals (-6.7%), Westpac Banking Corp. (-4.5%), ANZ Group (-2.6%), Infratil (-1.5%), and Auckland International Airport (-1.3%).
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The NZX 50 dropped 8 points, or 0.1%, to 13,072 in Wednesday morning trade, falling for the second straight session and tracking declines on Wall Street overnight, as a hot inflation reading amid higher oil prices fueled concerns that the Fed will not cut rates this year. Traders also remained cautious ahead of business inflation expectations data for Q2 later today, as well as New Zealand's food inflation data and manufacturing PMI, both due later this week. Markets will also monitor developments surrounding a potential meeting between US President Trump and Chinese President Xi Jinping later this week. Financials, consumer staples, communication services, and industrials mainly dragged the index lower, with the biggest laggards including AFC Pharmaceuticals (-1.6%), Henderson Far East Income (-1.3%), Infratil (-1.0%), A2 Milk (-0.9%), ANZ Group (-0.8%), Freightways (-0.8%), and Chorus (-0.7%).
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