NZX 50 Erases Early Losses, Ends at Record High

New Zealand's stocks advanced 78 points, or 0.6%, to close at 13,851 on Monday, reversing weakness in the morning session and halting the previous session's losses, mainly supported by gains in consumer staples, communication services, industrials, and healthcare sectors. The broader index hit a record high, tracking a rise in US futures due to easing oil prices amid moderating Middle East tensions while traders braced for the release of big tech earnings. However, traders remained cautious ahead of the Fed's monetary policy decision and China's PMI data due this week, as well as the release of New Zealand's consumer confidence and business outlook data for July, also due this week. Auckland International Airport gained 2.0%, A2 Milk climbed 1.8%, ANZ Group rose 1.7%, Summerset Group rose 1.5%, Westpac Banking Corporation went up 1.5%, and Fisher & Paykel Healthcare increased 1.2%.

New Zealand's stocks fell 25 points, or 0.2%, to 13,748 in Monday morning trade, extending losses from the previous session, mainly weighed down by declines in financials, utilities, and real estate. Traders continued to assess US plans to impose new tariffs ranging from 10% to 12.5% on 60 economies, including New Zealand, while monitoring developments in the Middle East conflict after the US paused strikes on Iran and Iran reportedly agreed to pause attacks if the US maintained its halt to strikes. Caution also prevailed ahead of the Fed's monetary policy decision and China's PMI data due this week. Traders also anticipated the release of New Zealand's consumer confidence and business outlook data for July, also due this week. However, a rise in US stock futures capped the fall ahead of big tech earnings this week, while oil prices declined. Among the early losers were Infratil (-1.4%), South Port NZ (-1.2%), Contact Energy (-0.6%), F&C Investment (-0.4%), and Freightways (-0.3%).

New Zealand's stocks dropped 23 points, or 0.2%, to close at 13,772 on Friday, mainly weighed down by declines in consumer discretionary, energy, healthcare, and financials. The broader index pulled back from a record high touched a day earlier as traders took profits, while tracking a decline on Wall Street overnight amid disappointing economic data and renewed doubts over AI spending. US plans to impose new tariffs ranging from 10% to 12.5% on 60 economies, including New Zealand, pressured sentiment. Persistently high oil prices also weighed on sentiment as inflation concerns fueled expectations of further interest rate hikes. Fletcher Building fell 2.9%, F&C Investment dropped 1.3%, Infratil shed 1.5%, Fisher & Paykel declined 1.2%, Henderson Far East Income went down 0.9%, and Freightways Group decreased 0.6%. For the week, the index rose 0.6% after falling last week.