The NZX 50 fell 98 points, or 0.7%, to close at 13,519 on Friday, erasing the prior session’s gains as most sectors declined, led by financials, healthcare, and non-energy minerals. Risk appetite weakened amid mounting concerns that the U.S.-Israel conflict with Iran could be prolonged, now entering its seventh day.
For the week, the index lost 1.5%, its first weekly decline in three weeks. The pullback followed China’s slightly lower 2026 GDP growth target of 4.5%–5% and uncertainty over the policy mix to support domestic consumption in New Zealand’s largest trading partner. Although Beijing’s draft five-year plan signals an intention to rebalance the economy, it stops short of setting a clear target for consumption’s share of GDP.
Caution also increased ahead of key data releases from mainland China next week, including February inflation figures and combined January–February trade data. In New Zealand, investors are awaiting Q4 manufacturing sales, the February PMI, and January visitor arrival numbers.
Among the notable losers were Scott Technology (-3.9%), Delegat Group (-2.5%), PGG Wrightson (-2.3%), and Sanford Ltd. (-1.9%).
