New Zealand shares fell 45 points, or 0.3%, to 13,574 in Wednesday morning trade, extending their decline to a third consecutive session. The move followed a sharp sell-off on Wall Street, as investors worried that the escalating conflict in the Middle East could stoke inflation. The New Zealand government in Wellington said it is closely monitoring the situation and assessing its impact on New Zealanders overseas.
In China, February PMI figures are due later today, with investors wary that the extended Spring Festival holiday may have dampened economic activity. Losses on the NZX were partly contained by fresh data showing New Zealand’s merchandise terms of trade rose 3.7% year-on-year in Q4 2025, rebounding from a 2.1% decline in the previous quarter. Markets are also looking ahead to Australia’s Q4 GDP report, due later in the day, amid expectations of sustained growth momentum.
By sector, consumer durables, logistics, and healthcare led the losses, while commercial services and retail trade posted gains. Among individual names, Property for Industry dropped 2.1%, followed by Genesis Energy Ltd. (-1.8%), Napier Port Holdings (-1.6%), and Gentrack Group (-1.3%).