FX.co ★ NZX 50 Falls for 5th Session on Tariff Jitters

New Zealand's stock market dipped by 13 points, or 0.1%, to 12,665 on Tuesday morning, marking a continuation of declines for the fifth consecutive session amidst a slight downturn in U.S. futures. Investor caution was evident, fueled by concerns about escalating U.S. tariffs, particularly after President Trump issued a warning on Monday about imposing significant tariffs on Russia if a peace agreement with Ukraine is not achieved within the next 50 days. Market participants also remained alert ahead of critical economic data releases from China, expected later today, which include June's activity figures and the GDP for the second quarter. Domestically, New Zealand's services sector experienced contraction for the fifth month running in June, with activity levels remaining below the long-term average. Nonetheless, overall market losses were somewhat offset by unexpectedly robust trade data from China for June, showing a higher-than-anticipated rise in exports and the first growth in imports for the year. In terms of individual stocks, the NZX 50 index saw declines led by Sky Network Television, which fell 2.64%, followed by Skellerup Holdings at 2.2%, Summerset Group at 1.2%, and Fisher & Paykel Healthcare at 1.0%.