The NZX fell 92 points, or 0.7%, to close at 13,181 on Friday, reversing its early gains and snapping a four-session winning streak. The broader index pulled back from a three-week high hit on Thursday, as sentiment weakened amid a fragile ceasefire between the US and Iran. The two countries agreed on a two-week truce brokered by Pakistan on Tuesday, but clashes continued after the announcement, even as Israel signaled a willingness to engage in negotiations.
Risk appetite was further dampened by mixed data from China. Headline CPI on the mainland rose by less than expected, while producer prices (PPI) increased for the first time in three years. Investors were also cautious ahead of next week’s data releases, including March US inflation figures—set against the backdrop of rising oil prices—and a raft of Chinese indicators such as GDP.
Sector-wise, technology stocks led the decline, followed by healthcare, materials, and communication services. Among individual names, the biggest laggards were Gentrack Group (-4.6%), Summerset Group (-2.4%), Ebos Group (-2.1%), Fisher & Paykel (-2.0%), and a2 Milk (-1.3%).
