The NZX 50 fell 26 points, or 0.2%, to 13,999 in Thursday morning trade, extending its losing streak to a fourth consecutive session and hitting its lowest level since April 30. The decline was led by weakness in the financials, communication services, and industrial sectors.
Caution dominated trading after fresh data showed New Zealand’s manufacturing sector expanded at its slowest pace in seven months, while food inflation eased to a 14‑month low in April. Investor sentiment was further restrained ahead of a busy domestic data calendar, including upcoming releases on retail sales and the private‑sector PMI.
Market participants were also wary ahead of a series of key economic reports from China and next week’s interest rate decision by the People’s Bank of China. These external factors added to the cautious tone.
Losses on the local market were partially limited by an overnight rally on Wall Street, driven by gains in AI‑related stocks and optimism surrounding the US–China summit.
Among the notable decliners were Third Age Health Services (-1.6%), AFT Pharmaceuticals (-1.1%), Infratil (-1.0%), and Fletcher Building (-0.7%).
