The NZX 50 slipped 17 points, or 0.1%, to finish at 13,739 on Friday, giving up its early gains and ending a two-day winning streak as investors digested the latest GDP figures. Data released Thursday showed New Zealand’s quarterly GDP growth easing to 0.1% from 0.2%.
Market participants also looked ahead to China’s upcoming interest rate decision and next week’s US PMI releases for further signals on the global economic outlook. Domestically, sentiment was tempered by mixed data: New Zealand’s trade deficit narrowed in August compared with July, while food inflation held at a 19‑month low, limiting potential upside for the index.
A strong session on Wall Street on Thursday helped contain losses, as falling oil prices contributed to lower US Treasury yields and supported risk assets globally. Nonetheless, the NZX 50 was dragged lower by consumer staples, financials, and communication services. Notable decliners included A2 Milk (-3.9%), Skellerup Holdings (-2.9%), Gentrack Group (-2.6%), Infratil (-1.0%), and Westpac Banking Corp (-0.9%).
Despite Friday’s pullback, the index gained 1.1% over the week, recovering some ground after a decline in the prior week.
