05.03.202622:55:21UTC+00New Zealand Stocks Poised for Weekly Loss

New Zealand equities fell 98 points, or 0.7%, to 13,521 in Friday’s morning session, wiping out gains from the previous day. The decline tracked losses on Wall Street overnight and came as the conflict in the Middle East entered its seventh day, pushing oil prices higher and stoking inflation concerns, while adding to uncertainty over the timing and scale of potential U.S. Federal Reserve rate cuts.

Risk sentiment was further weighed down by caution ahead of key data releases next week from China, New Zealand’s largest trading partner, including February inflation figures and combined January–February trade data. Domestically, investors are also awaiting Q4 manufacturing sales, the February PMI, and January visitor arrival numbers.

Most sectors on the NZX 50 traded lower, with transport, healthcare, and non-energy minerals leading the declines. By contrast, logistics and electronic technology stocks posted gains. Among the early underperformers were Scott Technology (-4.6%), Tourism Holdings (-2.4%), PGG Wrightson (-2.3%), and Colonial Motor (-2.2%).

For the week, the New Zealand market is on track for its first decline in three weeks, down about 1.4% so far.