FX.co ★ NZX 50 Hovers at Near 4-Week Low

In early trading on Thursday, New Zealand's stock market experienced a 63-point drop, a 0.5% decrease, bringing the NZX 50 index down to 12,299, marking its second consecutive decline. This slump mirrored the downturn seen on Wall Street the previous night, as investors evaluated corporate earnings, Federal Reserve meeting minutes, and ongoing trade tensions. The index hit its lowest point since early May, with market participants still processing the Reserve Bank of New Zealand’s updates. Governor Christian Hawkesby, addressing a parliamentary panel on Thursday, highlighted that tariff uncertainties are complicating economic forecasts. Despite a decrease in demand and inflationary pressures, the central bank hinted at a slightly more extensive easing cycle. On Wednesday, it reduced the Official Cash Rate by 25 basis points. According to the May Monetary Policy Statement, projections suggest that the rate could decrease further, reaching 2.85% by the first quarter of 2026. Nearly all sectors experienced declines, with healthcare, industrials, and consumer staples leading the losses. Early major decliners included Ebos Group, down 6.7%, Ryman Healthcare, which fell 3.3%, Mainfreight by 1.3%, and Auckland International Airport, which decreased 1.1%.