New Zealand Stocks Muted in Morning Session

2026-07-08 23:01 By Chusnul Chotimah 1 min. read

The NZX 50 was almost flat, trading around 13,666 in Thursday morning trade after retreating in the previous session, as gains in communication services and materials offset declines in energy and financials.

Traders continued to assess Wednesday's RBNZ decision to raise interest rates by 25 bps to 2.5% and signal further tightening ahead to bring inflation back to target.

They also studied the minutes of the Fed's meeting, which showed policymakers were divided on the future path of interest rates, though most participants indicated that some further policy firming would likely be warranted to return inflation to the 2% target.

Caution also prevailed amid rising oil prices, as inflation concerns raised expectations of further interest rate hikes.

On the positive side, New Zealand's manufacturing sector recorded its strongest growth since July 2021.

Chorus rose 1.8%, Summerset Group climbed 1.4%, while AFT Pharmaceuticals and Channel Infrastructure shed 2.1% and 2.2%, respectively.



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New Zealand Stocks Muted in Morning Session
The NZX 50 was almost flat, trading around 13,666 in Thursday morning trade after retreating in the previous session, as gains in communication services and materials offset declines in energy and financials. Traders continued to assess Wednesday's RBNZ decision to raise interest rates by 25 bps to 2.5% and signal further tightening ahead to bring inflation back to target. They also studied the minutes of the Fed's meeting, which showed policymakers were divided on the future path of interest rates, though most participants indicated that some further policy firming would likely be warranted to return inflation to the 2% target. Caution also prevailed amid rising oil prices, as inflation concerns raised expectations of further interest rate hikes. On the positive side, New Zealand's manufacturing sector recorded its strongest growth since July 2021. Chorus rose 1.8%, Summerset Group climbed 1.4%, while AFT Pharmaceuticals and Channel Infrastructure shed 2.1% and 2.2%, respectively.
2026-07-08
NZX 50 Retreats from Record High After RBNZ Decision
The NZX 50 fell 98 points, or 0.7%, to close at 13,665 on Wednesday, after being flat in the previous session, pulling back from a record high reached over the previous two consecutive sessions, following the RBNZ's decision to raise interest rates by 25 bps to 2.5%. The central bank raised its cash rate for the first time in more than three years and signalled further tightening ahead to bring inflation back to target. Traders also anticipated the release of the Fed's June meeting minutes for guidance on the outlook for interest rates. Rising oil prices further pressured sentiment, as inflation concerns raised expectations of further interest rate hikes. The broader index tracked Wall Street's overnight decline, amid a sell-off in chipmaker stocks. Healthcare, financials, technology, and communication services mainly weighed on the index, with notable losses from Ventia Services Group (-2.8%), Fisher & Paykel (-2.6%), Infratil (-2.3%), and Freightways Group (-1.8%).
2026-07-08
NZX 50 Falls Ahead of RBNZ Decision
The NZX 50 dropped 42 points, or 0.3%, to 13,720 in Wednesday morning trade, after being flat in the previous session, pulling back from a record high reached over the previous two consecutive sessions, as traders remained cautious ahead of the RBNZ's monetary policy decision due later today. The market expects the central bank to raise its policy rate by 25 bps to 2.5%. Traders also anticipated the release of the Fed's June meeting minutes for guidance on the outlook for interest rates. Rising oil prices also pressured sentiment, as inflation concerns raised expectations of further interest rate hikes. The broader index tracked Wall Street's overnight decline, mainly weighed down by financials, healthcare, technology, and utilities. Fisher & Paykel Healthcare dropped 2.0%, Ebos Group fell 1.2%, Mainfreight lost 1.0%, Infratil declined 0.6%, and F&C Investment went down 0.4%.
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