The NZX 50 slipped 13 points, or 0.1%, to close at 13,734 on Friday, extending the previous session’s decline and mirroring an overnight selloff on Wall Street as weakness in technology stocks deepened. Investor caution intensified ahead of next week’s monetary policy decision from the RBNZ and the US Federal Reserve’s interest rate announcement.
While annual inflation eased to 3.7% in Q3, sentiment remained guarded amid expectations that price pressures could pick up again after a temporary pullback in fuel costs. Inflation also continued to sit above the RBNZ’s 1–3% target band. Adding to concerns, rising oil prices weighed on risk appetite, reinforcing worries about renewed inflationary pressures and the prospect of further rate hikes.
Sector-wise, materials, technology, and energy stocks were the main drags on the index. The steepest declines came from Fletcher Building (-4.8%), Summerset Group (-3.2%), Henderson Far East Income (-2.7%), EBOS Group (-1.9%), Contact Energy (-1.1%), and Infratil (-1.0%). For the week, the NZX 50 inched down 0.1%, after posting an almost flat performance in the prior week.
