New Zealand equities slipped 70 points, or 0.5%, to 13,223 in Thursday morning trade, erasing gains from the previous session after Wall Street ended mostly lower overnight. Risk sentiment softened as the conflict involving Iran showed no sign of resolution, while the latest U.S. inflation data did little to reassure investors.
On the domestic front, manufacturing sales fell 0.7% year-on-year in Q4 2025, reversing a 0.9% rise in Q3 and underscoring a loss of momentum toward the end of last year. Caution also prevailed ahead of key data releases due next week, including February food inflation and Q4 GDP.
In New Zealand’s largest trading partner, China, a lower 2026 GDP growth target combined with still-solid exports may delay the rollout of additional policy stimulus.
Sector declines on the NZ market were led by energy minerals, consumer services, and healthcare, though the broader pullback was partially offset by gains in consumer durables and retail trade. Among notable underperformers were Sky Network TV (-3.2%), Meridian Energy (-1.8%), Tourism Holdings (-1.7%), and Property for Industry (-1.3%).
