FX.co ★ NZ Stocks Fall for 2nd Day, Snap 3-week Winning Streak

New Zealand's primary stock index, the S&P/NZX 50, experienced a decline of 0.5% to settle at 12,597 on Friday. This marked a second day of losses and concluded a winning trend that had lasted three weeks. This downturn occurred despite unexpectedly strong retail sales figures for the first quarter, which showed a 0.8% increase, surpassing the anticipated 0.1% rise. Nonetheless, investors are increasingly concerned about the country's economic prospects amid the mounting challenges from the global trade conflict. The market's attention is now on the upcoming policy meeting of the Reserve Bank of New Zealand, where it is broadly anticipated that the central bank will reduce interest rates by 25 basis points, given the persistently low inflation. Among the large-cap stocks, Fisher & Paykel, Meridian Energy, and Infratil each saw significant declines, with losses of 1.7%, 1.9%, and 3.1%, respectively. Over the week, the NZX 50 fell by 1.5%, marking its first weekly loss in four weeks.