NZX Falls for 3rd Session, Tracking Wall Street Lower

2026-06-23 22:55 By Chusnul Chotimah 1 min. read

The NZX 50 dropped 38 points, or 0.3%, to 13,398 in Wednesday morning trade, extending losses from the previous two sessions, as it tracked a decline on Wall Street overnight driven by a steep sell-off in chip stocks amid concerns that AI hyperscalers may be forced to slow spending on AI infrastructure.

Traders were also cautious ahead of the release of the US final Q1 GDP data and the May PCE Price Index later this week, which could provide clues about the Federal Reserve's monetary policy decision at its upcoming meeting, after it left interest rates unchanged last week.

However, easing oil prices helped limit the decline as inflation concerns eased.

Financial, technology, healthcare, and industrial stocks weighed on the index, with notable losses from Summerset Group (-2.3%), Fletcher Building (-2.1%), Ryman Healthcare (-1.3%), Gentrack Group (-1.1%), Hallenstein Glasson (-1.1%), Mainfreight (-0.9%), and Infratil (-0.6%).



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NZX Falls for 3rd Session, Tracking Wall Street Lower
The NZX 50 dropped 38 points, or 0.3%, to 13,398 in Wednesday morning trade, extending losses from the previous two sessions, as it tracked a decline on Wall Street overnight driven by a steep sell-off in chip stocks amid concerns that AI hyperscalers may be forced to slow spending on AI infrastructure. Traders were also cautious ahead of the release of the US final Q1 GDP data and the May PCE Price Index later this week, which could provide clues about the Federal Reserve's monetary policy decision at its upcoming meeting, after it left interest rates unchanged last week. However, easing oil prices helped limit the decline as inflation concerns eased. Financial, technology, healthcare, and industrial stocks weighed on the index, with notable losses from Summerset Group (-2.3%), Fletcher Building (-2.1%), Ryman Healthcare (-1.3%), Gentrack Group (-1.1%), Hallenstein Glasson (-1.1%), Mainfreight (-0.9%), and Infratil (-0.6%).
2026-06-23
New Zealand Equities End Slightly Lower
The NZX 50 inched down 10 points, or 0.1%, to close at 13,436 on Tuesday, extending losses from the prior session, mainly weighed down by materials, industrials, and healthcare stocks. Traders were cautious as they anticipated the release of the US final Q1 GDP data and the May PCE Price Index, due this week, for clues on the Fed's monetary policy decision at its upcoming meeting, after it held interest rates steady last week. Gains in consumer staples, financials, and communication services limited the decline. However, easing oil prices capped the fall as inflation fears eased amid ongoing US-Iran peace talks, while Washington granted Iran a 60-day license to sell oil on international markets. Vulcan Steel dropped 3.0%, Briscoe Group fell 2.3%, Auckland International Airport was down 1.9%, Sanford fell 1.7%, Fisher & Paykel Healthcare declined 1.6%, Ebos Group shed 1.2%, and Mainfreight was down 1.0%.
2026-06-23
New Zealand Stocks Trade Flat in Morning Session
The NZX 50 was almost flat, trading around 13,453 in Tuesday morning trade after falling in the prior session, as gains in industrials, consumer staples, and real estate stocks were offset by declines in energy, communication services, and healthcare. Traders also anticipated the release of the US final Q1 GDP data and the May PCE Price Index, due this week, for clues on the Fed's monetary policy decision at its upcoming meeting, after it held interest rates steady last week. Investors also continued to monitor developments in US-Iran peace talks amid Israel's attacks across southern Lebanon despite ongoing diplomatic efforts. Turners Automotive Group advanced 1.5%, A2 Milk rose 1.2%, and Ryman Healthcare climbed 0.9%, while Meridian Energy, Summerset Group, and Auckland International Airport fell 0.7%, 0.6%, and 0.5%, respectively.
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