FX.co ★ NZX 50 Extends Losses Toward Six-Week Low

New Zealand's S&P/NZX 50 index declined by 0.5%, closing at 13,349 on Thursday. This drop continues the losses observed in the prior session, with most sectors such as healthcare, financials, consumer, and non-energy experiencing downturns. The market sentiment was dampened by the US Federal Reserve's decision to maintain the current interest rates, which sparked uncertainty regarding the timing of future rate reductions. Investors closely watched domestic business confidence levels, which fell by 10 points from December's 30-year peak of 73.6. Notable decliners included Mainfreight with a 1.4% decrease, EBOS Group falling 0.9%, Auckland International Airport down 0.7%, Fisher & Paykel dropping 0.4%, Infratil easing 0.2%, and Contact Energy slipping 0.1%. Moving forward, attention is now directed towards the consumer confidence data expected early Friday, followed by the release of Q4 labor market statistics next week, coinciding with China's PMI figures over the weekend.