NZX 50 Trades Lower in Morning Deals

2026-06-16 22:58 By Chusnul Chotimah 1 min. read

The NZX 50 dropped 55 points, or 0.4%, to 13,372 in Wednesday morning deals, erasing gains from the previous session, mainly weighed down by the materials, financials, communication services, and healthcare sectors.

The broader index declined from its highest level since March 6, which it touched a day earlier, tracking a fall in Wall Street's Nasdaq and S&P 500 indexes amid a pullback in AI-related stocks.

Fresh data pressured sentiment, as New Zealand's consumer confidence fell to its lowest level since 2023 in Q2, weighed by rising fuel and other living costs, while the Q1 current account gap widened from the same period a year earlier.

Traders also anticipated this week's release of New Zealand's Q1 GDP data and the Fed's monetary policy decision.

Among early losers were Fisher & Paykel (-0.9%), Briscoe Group (-0.9%), Ebos Group (-0.7%), Henderson Far East Income (-0.6%), Infratil (-0.5%), and Contact Energy (-0.4%).



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