FX.co ★ New Zealand Shares Fall for 2nd Day

On Friday, New Zealand's key S&P/NZX 50 index experienced a decline of 0.3%, settling at 13,112. This marked the second consecutive session of downward movement for the index. The local stock market mirrored the downturn seen on Wall Street, where strong U.S. economic data prompted a minor adjustment in this year's interest rate forecasts. Global investors are now focused on the anticipated release of the U.S. PCE price index later today, which may provide further insights into the Federal Reserve’s potential rate reductions. Domestically, the ANZ-Roy Morgan survey indicated an uptick in consumer confidence in New Zealand for September, hinting that the effects of earlier monetary policy easing may be starting to manifest. On the corporate landscape, significant declines were observed among major companies, including Auckland International Airport (-2.2%), Infratil (-3.6%), Contact Energy (-2.1%), and Mercury NZ (-0.8%). In contrast, healthcare stocks showed mixed results following the announcement by U.S. President Donald Trump of a 100% tariff on branded drug imports, effective from October 1. Over the course of the week, the NZX 50 registered a 0.9% decrease, marking its most pronounced weekly drop in two months.