The NZX 50 fell 60 points, or 0.5%, to 12,965 on Friday, its fourth consecutive daily decline and the lowest close since April 30. The pullback came as traders turned cautious following fresh data showing New Zealand’s manufacturing sector expanded at its slowest pace in seven months.
Sentiment was further dampened ahead of a busy week of domestic data releases, including retail sales and private sector PMI figures. Investors also adopted a risk-off stance in advance of several key economic releases from China and the upcoming PBOC interest rate decision.
The broader index mirrored weakness in U.S. futures as markets evaluated the final stage of President Trump’s meeting with Chinese President Xi Jinping. Sector-wise, healthcare, utilities, and communication services exerted the most downward pressure, with notable declines in Fisher & Paykel Healthcare (-3.8%), Sanford (-2.0%), F&C Investment Trust (-1.8%), and Mainfreight (-0.6%).
On a weekly basis, the NZX 50 lost 1.6%, its first weekly decline in three weeks.
