NZX Extends Losses, Ends 0.2% Lower

2026-07-02 06:01 By Chusnul Chotimah 1 min. read

The NZX 50 fell 28 points, or 0.2%, to close at 13,582 on Thursday, extending losses from the previous session, mainly driven by the communication services, energy, consumer staples, and technology sectors.

Communication services fell 2.8%, with Spark New Zealand, New Zealand's largest telecommunications and digital services company, slumping 3.7%, while Chorus, New Zealand's largest telecommunications network operator, saw its share price drop 2.5%.

The broader index tracked a decline on Wall Street overnight as traders reassessed the sustainability of the AI-driven rally.

Traders anticipated the release of New Zealand's consumer spending data for May, due on Friday.

However, easing oil prices helped limit the losses as inflation concerns subsided, reducing expectations of an interest rate hike.

Other losers included Ebos Group (-2.7%) and A2 Milk (-1.3%), while Infratil and Hallenstein Glasson each dropped 0.8%.

On the data front, New Zealand's building permits fell 4.0% in May.



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NZX Extends Losses, Ends 0.2% Lower
The NZX 50 fell 28 points, or 0.2%, to close at 13,582 on Thursday, extending losses from the previous session, mainly driven by the communication services, energy, consumer staples, and technology sectors. Communication services fell 2.8%, with Spark New Zealand, New Zealand's largest telecommunications and digital services company, slumping 3.7%, while Chorus, New Zealand's largest telecommunications network operator, saw its share price drop 2.5%. The broader index tracked a decline on Wall Street overnight as traders reassessed the sustainability of the AI-driven rally. Traders anticipated the release of New Zealand's consumer spending data for May, due on Friday. However, easing oil prices helped limit the losses as inflation concerns subsided, reducing expectations of an interest rate hike. Other losers included Ebos Group (-2.7%) and A2 Milk (-1.3%), while Infratil and Hallenstein Glasson each dropped 0.8%. On the data front, New Zealand's building permits fell 4.0% in May.
2026-07-02
New Zealand Stocks Extend Losses
The NZX 50 dropped 11 points, or 0.1%, to 13,600 in Thursday's morning trade, down for the second consecutive session, tracking a decline on Wall Street overnight, as traders reassessed the sustainability of the AI-driven rally. Traders anticipated the release of New Zealand's consumer spending data for May, due on Friday, following the release of New Zealand's business confidence data last Tuesday, as well as US jobs data later today. However, easing oil prices capped losses as inflation concerns subsided, reducing expectations of an interest rate hike. Communication services, industrials, utilities, and consumer staples mainly weighed on the index. Freightways Group shed 1.6%, Henderson Far East Income dropped 1.1%, Auckland International Airport fell 0.9%, and A2 Milk went down 0.5%. On the data front, New Zealand's building permits fell 4.0% in May, reversing an upwardly revised 11.1% rise in April.
2026-07-01
New Zealand Shares End 0.1% Lower
The NZX 50 fell 11 points, or 0.1%, to close at 13,611 on Wednesday, erasing gains from the previous session, mainly weighed down by losses in consumer staples, materials, utilities, and healthcare. The broader index retreated from its highest level since February 27, reached a day earlier, tracking a decline in US stock futures. Traders awaited the release of New Zealand's consumer data for May, due later this week. However, gains in consumer discretionary, industrial, and technology stocks helped limit the decline. Easing oil prices also capped the losses as inflation concerns subsided, reducing expectations of an interest rate hike. Tuesday's data also helped limit the losses, as New Zealand's business confidence surged to its highest level since February. Among the biggest laggards were ANZ Group (-3.3%), Meridian Energy (-2.1%), Westpac Banking Corp. (-2.4%), Fletcher Building (-3.2%), A2 Milk (-1.9%), Chorus (-1.3%), and Fisher & Paykel Healthcare (-1.2%).
2026-07-01