New Zealand's benchmark index slipped 23 points, or 0.2%, to close at 13,772 on Friday, dragged lower by weakness in consumer discretionary, energy, healthcare, and financial stocks. The market pulled back from the record high reached on Thursday as traders locked in profits, while also mirroring overnight losses on Wall Street following disappointing US economic data and renewed concerns over the sustainability of AI-related spending.
Sentiment was further dampened by US plans to impose new tariffs of 10% to 12.5% on imports from 60 economies, including New Zealand. Persistently elevated oil prices added to the cautious mood, stoking inflation worries and reinforcing expectations of additional interest rate hikes.
Among individual movers, Fletcher Building fell 2.9%, F&C Investment lost 1.3%, Infratil slipped 1.5%, Fisher & Paykel declined 1.2%, Henderson Far East Income edged down 0.9%, and Freightways Group eased 0.6%. Despite Friday’s pullback, the index ended the week up 0.6%, partially recovering from losses in the previous week.
