FX.co ★ New Zealand Stocks Snap 4-day Win Streak

The S&P/NZX 50 index declined by 0.6%, closing at 12,856 on Wednesday, marking the end of a four-day upward trend. Investor sentiment turned wary following the conclusion of US-China trade discussions, which failed to produce significant advancements. While both nations have agreed to consider extending their 90-day tariff truce, the ultimate decision rests with President Trump. Further complicating matters, New Zealand, which is already subject to a 10% baseline tariff imposed by Trump, may encounter increased tariffs of 15% to 20% if an agreement is not finalized soon. Additionally, the anticipation that the US Federal Reserve will maintain its current interest rates this week has also contributed to the cautious atmosphere. Domestically, although New Zealand's business confidence saw a slight uptick in July, many firms are still facing challenging conditions, as indicated by the stagnant forward-looking activity markers. In corporate developments, Mainfreight emerged as the session's largest decliner, plummeting by 9.6% after the logistics company announced a disappointing beginning to FY2026, with declining profits across its primary divisions.