FX.co ★ NZX-50 Closes Higher, But Posts 5th Weekly Loss

On Friday, the S&P/NZX 50 Index in New Zealand edged up by 0.5% to close at 12,114, despite marking its fifth consecutive weekly decline. Economically, New Zealand reported a trade surplus in February, reversing a deficit from the same month the previous year. This shift was largely due to robust double-digit growth in exports, which surpassed the increase in imports. Additionally, recent data indicated that the nation's GDP expanded more rapidly than anticipated in the fourth quarter, effectively lifting the economy out of a recession. Among the large-cap stocks, Intratil saw a notable increase of 4.9%, and Spark NZ rose by 2%, with property stocks also contributing to the index's upward movement. Over the course of the week, however, the index dropped by 1.2%, signifying its fifth straight weekly loss. This represents the longest such streak since 2023 and mirrors the cautious market sentiment stemming from apprehensions regarding U.S. President Donald Trump's trade policies.