New Zealand Stocks Extend Losses

2026-10-07 22:45 By Chusnul Chotimah 1 min. read

The NZX 50 dropped 28 points, or 0.2%, to 13,656 in Thursday morning trade, extending declines from the previous session and touching its lowest level since September 16, tracking a fall on Wall Street overnight due to higher Treasury yields.

The decline was mainly weighed down by the materials, utilities, financials, and tech sectors; however, gains in real estate pared the fall.

Caution rose after the FOMC minutes suggested the Fed is likely to raise rates again this year.

Traders also kept a close eye on the Middle East conflict and its impact on oil prices amid inflation concerns.

Last month, the Reserve Bank of New Zealand raised its cash rate by 25 bps to 2.75%, delivering a second straight hike to bring inflation back to the 2% midpoint target.

Among early losers were Vulcan Steel (-1.1%), Westpac Banking Corp.

(-0.8%), Sanford (-0.8%), Briscoe Group (-0.7%), Freightways Group (-0.6%), Infratil (-0.6%), Meridian Energy (-0.6%), and ANZ Group (-0.4%).



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New Zealand Stocks Extend Losses
The NZX 50 dropped 28 points, or 0.2%, to 13,656 in Thursday morning trade, extending declines from the previous session and touching its lowest level since September 16, tracking a fall on Wall Street overnight due to higher Treasury yields. The decline was mainly weighed down by the materials, utilities, financials, and tech sectors; however, gains in real estate pared the fall. Caution rose after the FOMC minutes suggested the Fed is likely to raise rates again this year. Traders also kept a close eye on the Middle East conflict and its impact on oil prices amid inflation concerns. Last month, the Reserve Bank of New Zealand raised its cash rate by 25 bps to 2.75%, delivering a second straight hike to bring inflation back to the 2% midpoint target. Among early losers were Vulcan Steel (-1.1%), Westpac Banking Corp. (-0.8%), Sanford (-0.8%), Briscoe Group (-0.7%), Freightways Group (-0.6%), Infratil (-0.6%), Meridian Energy (-0.6%), and ANZ Group (-0.4%).
2026-10-07
New Zealand Stocks End Slightly Lower.
The NZX 50 fell 16 points, or 0.1%, to close at 13,684 on Wednesday, after remaining flat in the previous session, mainly weighed down by real estate, financials, industrials, and utilities. Rising oil prices pressured sentiment, raising concerns over inflation and interest rate hikes. Last month, the Reserve Bank of New Zealand raised its cash rate by 25 bps to 2.75%, delivering a second straight hike to bring inflation back to the 2% midpoint target. Caution prevailed ahead of the release of the FOMC minutes later this week. However, gains in the technology, materials, and health sectors capped the fall. An upbeat session on Wall Street overnight, with the S&P 500 hitting a fresh record high, also limited the decline, buoyed by heavyweight tech stocks. Among the bottom movers were South Port New Zealand (-3.0%), Freightways Group (-2.4%), Westpac Banking Corp. (-1.5%), Colonial Motor (-1.4%), EBOS Group (-1.2%), Mainfreight (-1.1%), and Infratil (-0.9%).
2026-10-07
New Zealand Stocks Muted in Morning Trade
The NZX 50 was almost flat, trading around 13,696 in Wednesday morning deals, after remaining flat in the previous session, as gains in consumer staples and real estate offset declines in consumer discretionary and communication services. Easing oil prices lifted sentiment as concerns over inflation and interest rate hikes eased. An upbeat session on Wall Street overnight also fueled sentiment, with the S&P 500 hitting a fresh record high, buoyed by heavyweight tech stocks as a surge in bond yields paused, easing pressure on the sector’s credit outlook. However, caution prevailed ahead of the release of the FOMC minutes later this week. Vulcan Steel advanced 2.0%, Briscoe Group rose 1.1%, EBOS Group gained 1.1%, and Fletcher Building climbed 0.9%, while Hallenstein Glasson, South Port New Zealand, and Westpac Banking Corp. dropped 1.5%, 0.7%, and 0.4%, respectively.
2026-10-06