FX.co ★ NZX 50 Pares Losses at Close, Down 0.3%

New Zealand shares slipped 39 points, or 0.3%, to finish at 13,958 on Thursday, snapping a three-session winning streak as investors locked in profits after the index hit a record high on Wednesday. Market participants continued to digest Q2 labour market data showing the unemployment rate rising to 5.6%—its highest level since Q3 2015—against a backdrop of elevated inflation, intensifying debate over the RBNZ’s policy stance ahead of its upcoming meeting.

Sentiment was also subdued as traders turned cautious before the release of China’s trade figures and US employment data due on Friday. The downside was limited, however, by further weakness in oil prices, amid optimism surrounding US–Iran peace talks, which helped ease inflation concerns and dampened expectations of another interest rate hike.

Sector-wise, healthcare, energy, consumer discretionary, and financial stocks exerted the most pressure on the benchmark. Notable decliners included Fisher & Paykel (-1.6%), Australian Foundation Investment (-1.5%), Freightways Group (-1.3%), Ebos Group (-1.1%), and Infratil (-0.9%).