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

New Zealand's primary S&P/NZX 50 index dropped by 0.4% to conclude at 13,075 on Wednesday, interrupting a four-day advancement. This decline mirrored the overnight downturn in Wall Street, influenced by persistent concerns over the Federal Reserve's autonomy and the ongoing uncertainties surrounding President Donald Trump's tariffs. Meanwhile, across the Tasman Sea, economic data revealed a stronger-than-expected expansion in Australia's economy for the second quarter, highlighting the region's resilience. Domestically, there is keen anticipation for the appointment of a new Reserve Bank of New Zealand (RBNZ) governor, with Prime Minister Christopher Luxon indicating that an announcement might be imminent within weeks. On the corporate front, several leading stocks exerted downward pressure on the index, with significant decreases observed in Spark NZ (-1.9%), Auckland International Airport (-1.5%), Infratil (-0.8%), Mercury NZ (-2.2%), a2 Milk (-2.8%), and Ebos Group (-1.8%).