New Zealand Stocks Set to Close Week on Low Note

New Zealand's stocks fell 26 points, or 0.2%, to 13,799 in Friday morning trade, after gaining in the previous session, as manufacturing sector growth eased in July. The latest data showed New Zealand's factory activity grew for the 21st consecutive month, though at a softer rate, as all of the sub-indices expanded at a slower pace. Traders were also cautious ahead of food inflation data and private-sector figures, as well as China's interest rate decision due next week. However, an upbeat session on Wall Street capped the fall overnight amid easing expectations of a Fed interest rate hike at its upcoming meeting. Materials, healthcare, and financials mainly weighed on the index, with the biggest laggards being Westpac Banking Corp. (-0.8%), Fisher & Paykel (-0.7%), ANZ Group (-0.6%), and Chorus (-0.5%). For the week, the index is heading for a 0.1% fall, after rising in the previous week.

New Zealand's stocks rose 88 points, or 0.6%, to close at 13,825 on Thursday, erasing losses from the previous two sessions, tracking an upbeat session on Wall Street overnight as moderated inflation eased expectations of a Fed interest rate hike at its upcoming meeting. The broader index moved from its lowest level since August 3, reached a day earlier, mainly buoyed by gains from financials, consumer staples, healthcare, and industrials. Moderating oil prices also lifted sentiment as easing concerns over inflation reduced expectations of RBNZ monetary policy tightening. The fresh data also fueled sentiment, as the RBNZ's quarterly survey of expectations showed that business managers expect inflation to slow to 2.34% over the next two years in Q3 2026, marking the lowest reading since Q4 2025. Among the top movers were ANZ Group (5.2%), Mainfreight (3.1%), Westpac Banking Corp. (2.9%), A2 Milk (1.7%), Fisher & Paykel (1.4%), Freightways Group (1.1%), and Contact Energy (1.1%).

New Zealand's stocks advanced 33 points, or 0.2%, to 13,771 in Thursday morning deals, halting losses from the previous two sessions, tracking a rise on Wall Street overnight as moderated inflation eased expectations of the Fed's tightening monetary policy decision at its upcoming meeting. The broader index moved from its lowest level since August 3, recorded a day earlier, mainly supported by gains from real estate, financials, materials, and energy. However, traders continued to monitor developments in the Middle East amid uncertainty over whether the Strait of Hormuz will reopen. Caution also prevailed ahead of the release of the RBNZ's business inflation expectations for Q3 later today, after accelerating slightly in Q2. Among early gainers were Port of Tauranga (1.5%), Ebos Group (0.6%), South Port NZ (0.5%), Meridian Energy (0.5%), Freightways Group (0.4%), Infratil (0.4%), Chorus (0.4%), Mainfreight (0.3%), and Contact Energy (0.3%).