FX.co ★ New Zealand Stocks Fall to 3-Week Low

On Wednesday, New Zealand's leading S&P/NZX 50 index decreased by 0.6%, closing at 13,371—its lowest point in three weeks. This decline extended losses from the previous day, as investors remained cautious before the US Federal Reserve's anticipated rate decision later. Market analysts predict a "hawkish cut" from the central bank. In parallel, Reserve Bank of New Zealand Governor Anna Breman stated there is no fixed trajectory for interest rates, emphasizing that the RBNZ will adapt its policy as necessary while closely observing economic developments. Among the major players in the index, companies such as Fisher & Paykel, Infratil, Mercury NZ, a2 Milk, and Spark NZ experienced declines, with respective decreases of 0.3%, 0.8%, 1.7%, 0.9%, and 0.4%. Other significant decliners included Fletcher Building and Kiwi Property, both down by 0.5%, Channel Infrastructure, which decreased by 0.4%, and Argosy Property, which saw a 1.6% drop.