30.07.202606:13:07UTC+00NZX 50 Falls from Record High, Ends Down 1.5%

New Zealand shares fell 214 points, or 1.5%, to close at 13,763 on Thursday, led lower by financials, healthcare, consumer staples, communication services, and materials, as traders locked in profits after the index notched its third consecutive record high. The benchmark slipped to its lowest level in more than a week, mirroring overnight losses on Wall Street after the Federal Reserve left interest rates unchanged.

Investors were cautious ahead of Friday’s release of China’s PMI data, closely watching conditions in New Zealand’s largest trading partner amid persistent uncertainty over the global outlook. Downside pressure on the index was limited by a stronger reading on New Zealand business confidence, which climbed to its highest level in five months. Easing oil prices also helped temper inflation worries and reduced expectations of further interest rate hikes.

Notable laggards included Vulcan Steel (-6.1%), Ryman Healthcare (-4.3%), A2 Milk (-3.4%), Fisher & Paykel (-2.4%), and Auckland International Airport (-1.9%).