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

New Zealand’s S&P/NZX 50 index fell by 1% to close at 11,903 on Wednesday, marking the second consecutive session of declines. Investor sentiment was chiefly influenced by ongoing concerns about the impact of tariffs on the global economy. Domestically, mood took a further hit from lackluster economic data. According to the ANZ Bank survey, business confidence in New Zealand deteriorated to a nine-month low in April, with most forward-looking activity indicators negatively affected by tariff anxieties. Compounding this situation, new data from China, New Zealand's largest trading partner, revealed a contraction in manufacturing activity in April, following two months of recovery. The health services sector spearheaded the market downturn, with Ryman Healthcare and Summerset Group experiencing losses of 5.6% and 2.2%, respectively. In the large-cap sector, significant declines were observed in Auckland International Airport (-3.3%), Mercury NZ (-2.1%), Contact Energy (-2.6%), and A2 Milk (-1%).