NZX 50 edges lower as Wall Street yields weigh
New Zealand’s NZX 50 falls 18 points, or 0.1%, to 13,901 in Friday morning trade, with healthcare, materials and industrials leading declines while the index remains up 0.3% for the week.
New Zealand stocks inched down 18 points, or 0.1%, to 13,901 in Friday morning deals, extending losses from the previous session, tracking a downbeat session on Wall Street overnight amid rising US Treasury yields.
The decline was mainly weighed down by healthcare, materials, and industrials.
However, gains in consumer staples, tech sectors, and real estate capped the fall.
Traders were also anticipating the release of US July PMIs and New Zealand's retail sales for Q2 due next week.
On the data front, New Zealand's trade deficit widened in July, as exports rose less than imports.
Among early losers were Fisher & Paykel (-1.1%), F&C Investment (-0.7%), EBOS Group (-0.6%), Mercury NZ (-0.6%), and Freightways Group (-0.5%).
However, for the week, the index rose 0.3%, marking the third consecutive weekly gain.