FX.co ★ New Zealand Stocks Fall for 2nd Day

The S&P/NZX 50 index of New Zealand experienced a decrease of 0.65%, closing at 12,281 on Thursday. This marks the second consecutive day of declines, bringing the index to its lowest point since early May. This downturn mirrors the losses seen on Wall Street, following the release of minutes from the Federal Reserve meeting indicating potential rising inflation risks, which negatively impacted chip designer stocks in late trading. In international developments, a U.S. trade court ruled on Wednesday that former President Donald Trump overstepped his authority in implementing extensive tariffs on numerous countries, nullifying the tariffs that spurred a global trade conflict. Domestically, New Zealand reported its business confidence levels have hit a ten-month low in May, indicating apprehensions about the economic forecast. Health technology stocks took a hit, with Fisher & Paykel and Ebos Group experiencing declines of 1.1% and 4.2%, respectively. Additionally, aged-care service providers faced challenges, as Ryman saw a significant fall of 7.9% and Summerset decreased by 1.8%.