FX.co ★ New Zealand Stocks Snap 5-day Rally

On Thursday, New Zealand's main index, the S&P/NZX 50, experienced a 0.6% decline, closing at 12,704. This downturn ended a five-day streak of gains. The market's performance was particularly impacted by a 2.1% decrease in the health technology sector, driven by a significant 2.9% fall in shares of leading company Fisher & Paykel. Additional notable declines were observed in companies such as Infratil, down 1.8%, Contact Energy and Mainfreight, both down 1%, and a2 Milk, which slipped by 1.1%. Investors proceeded with caution as they awaited the release of a crucial US non-farm payrolls report due later that day, which could potentially influence the Federal Reserve's decisions regarding monetary policy. In terms of international trade, President Donald Trump announced on Wednesday a trade agreement with Vietnam. This accord allows US products to enter Vietnam duty-free, while Vietnamese exports to the US will encounter a reduced tariff of 20%, compared to the 46% previously announced in April. This announcement has sparked optimism about the potential for additional bilateral trade agreements.