FX.co ★ NZX 50 Slips 5.9% in March

The NZX 50 rose 163 points, or 1.3%, to finish at 12,912 on Tuesday, reversing early losses and breaking a two-session losing streak. The turnaround followed a rally in U.S. futures amid reports that President Trump may move to end the war in Iran, despite ongoing disruptions in the Strait of Hormuz. Sentiment was further supported by a rebound in private-sector activity in China, New Zealand’s largest trading partner, with manufacturing output picking up after the Spring Festival and services activity regaining momentum.

Gains were led by healthcare, financials, and logistics, while weakness in commercial services and consumer durables tempered the overall advance. Notable performers included Turners Automotive (up 2.7%), Hallenstein Glasson (2.2%), and Fisher & Paykel Healthcare (2.1%).

Despite the day’s strength, the local market declined 5.9% over March, erasing earlier gains, after the Wellington government warned that inflation could breach the RBNZ’s 1–3% target band if geopolitical risks persist. Business confidence also slipped to its lowest level in nearly two years, underscoring mounting caution over potential spillovers from turbulence in the Middle East.