New Zealand Equities Track Wall Street Lower

2026-07-22 22:49 By Chusnul Chotimah 1 min. read

The NZX 50 dropped 52 points, or 0.4%, to 13,711 in Thursday morning deals, halting the gains of the previous session and pulling back from its highest level since July 9, reached a day earlier, tracking a decline in US futures following a downbeat session on Wall Street overnight ahead of the start of earnings season for mega-cap tech companies.

Persistently high oil prices also pressured sentiment as inflation concerns fueled expectations of further interest rate hikes, after the RBNZ raised its cash rate by 25 bps earlier this month.

Tuesday's data showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in Q2.

Healthcare, consumer staples, and industrial stocks mainly weighed on the index, with early losers including Gentrack Group (-4.4%), Hallenstein Glasson (-1.0%), Ventia Services (-0.7%), Auckland International Airport (-0.6%), and Fisher & Paykel (-0.5%).

Meanwhile, SkyCity Entertainment rose 0.8% after surging 12.8% in the previous session.



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New Zealand Equities Track Wall Street Lower
The NZX 50 dropped 52 points, or 0.4%, to 13,711 in Thursday morning deals, halting the gains of the previous session and pulling back from its highest level since July 9, reached a day earlier, tracking a decline in US futures following a downbeat session on Wall Street overnight ahead of the start of earnings season for mega-cap tech companies. Persistently high oil prices also pressured sentiment as inflation concerns fueled expectations of further interest rate hikes, after the RBNZ raised its cash rate by 25 bps earlier this month. Tuesday's data showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in Q2. Healthcare, consumer staples, and industrial stocks mainly weighed on the index, with early losers including Gentrack Group (-4.4%), Hallenstein Glasson (-1.0%), Ventia Services (-0.7%), Auckland International Airport (-0.6%), and Fisher & Paykel (-0.5%). Meanwhile, SkyCity Entertainment rose 0.8% after surging 12.8% in the previous session.
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