New Zealand shares fell 134 points, or 1.0%, to close at 13,824 on Friday, marking a second straight session of losses. The local market followed Wall Street lower overnight as rising oil prices strengthened expectations that the US Federal Reserve could raise interest rates at its upcoming meeting. Higher oil prices also weighed on sentiment domestically, with renewed inflation concerns boosting bets that the RBNZ will deliver another rate hike.
Investors were also cautious ahead of key data releases, including US jobs figures due later today and China’s inflation data scheduled for Sunday. Downside pressure was partly limited by upbeat Chinese trade data, which showed export growth remaining solid.
Losses were broad-based, with almost all sectors finishing in the red, including industrials, energy, healthcare, and consumer staples. Notable decliners included Auckland International Airport (-2.5%), A2 Milk (-1.6%), Fisher & Paykel (-1.4%), Westpac Banking Corp. (-1.1%), Mainfreight (-1.0%), and ANZ Group (-0.7%). Despite Friday’s pullback, the benchmark index still advanced 0.9% for the week, recovering some ground after a decline in the previous week.
