FX.co ★ New Zealand Equities Steady Ahead of Food Inflation Data

In early trading on Wednesday, the New Zealand stock market remained relatively stable, lingering around the 12,710 mark after a subdued conclusion in the previous session. Gains in the industrial services and logistics sectors nearly balanced out the declines in energy minerals and consumer sectors. Investors scrutinized economic data from China, New Zealand's chief trading partner, that revealed slightly better-than-anticipated GDP growth for the second quarter. Although this growth was the slowest in three quarters, it is attributed to the mounting pressure from increased U.S. tariffs. Meanwhile, U.S. futures experienced a sharp decline following setbacks in the Dow and Nasdaq on Tuesday, as stronger-than-expected June inflation resurfaced concerns about elevated import duties. Market participants are cautiously anticipating New Zealand's food inflation data for June, due to be released on Thursday, following May's 4.4% figure, the highest in 18 months. Among the early notable winners were Infratil, up 3.9%, Seeka with a rise of 2.3%, T&G Global climbing 1.5%, and Scott Tech advancing 1.0%. Leading the decliners were Tourism Holdings, down 4.6%, Millennium & Copthorne Hotels falling 4.4%, and Channel Infrastructure losing 1.8%.