FX.co ★ New Zealand Stocks Erase Early Gains

On Thursday, New Zealand's primary stock index, the S&P/NZX 50, experienced a decline of 0.2%, settling at 12,467. This downturn erased earlier advances in the trading session, largely due to pressure from the financial and healthcare sectors. Shares of Australian banks with New Zealand listings, such as Westpac, saw a decrease of 3.15%, while ANZ declined by 1.85%. Additionally, Ryman Healthcare, a prominent aged-care service provider, saw its stock dip by 3.3%. Among the major players within the index, Fisher & Paykel recorded a loss of 1.4%, Meridian Energy was down by 2.0%, and Infratil dropped by 3.2%. The Reserve Bank of New Zealand issued a warning on the same day, highlighting the potential disruptions to global supply chains and the subsequent economic implications for New Zealand due to U.S. tariffs. Meanwhile, the U.S. Federal Reserve maintained interest rates at their current levels on Wednesday, aligning with market expectations, but cautioned about the heightened risks of increasing inflation and unemployment.