FX.co ★ NZX 50 Gives Up Morning Gains, Ends Slightly Lower

The NZX 50 slipped 16 points, or 0.1%, to finish at 13,635 on Wednesday, giving up early gains and recording a third straight session of losses. The benchmark was dragged lower primarily by weakness in consumer staples, communication services, healthcare, and real estate stocks.

Sentiment remained under pressure from rising oil prices amid escalating conflict in the Middle East, which reinforced inflation worries and heightened expectations of further interest rate hikes. Investors also continued to react to comments from RBNZ Chief Economist Paul Conway, who warned that stubborn inflation, exacerbated by recent Middle East–related supply shocks, could necessitate additional policy tightening.

Risk appetite was further dampened by disappointing data from China, New Zealand’s largest trading partner, where the economy expanded at its slowest pace in three and a half years.

Notable decliners included A2 Milk (-2.0%), F&C Investment (-1.3%), Mainfreight (-1.1%), Chorus (-1.0%), and Fisher & Paykel (-0.6%).