NZX 50 slips 0.1% in Wednesday morning trade
New Zealand’s NZX 50 fell 15 points, or 0.1%, to 13,982 in Wednesday morning deals, reversing prior-session gains as healthcare, energy and utilities lagged.
New Zealand stocks fell 15 points, or 0.1%, to 13,982 in Wednesday morning deals, erasing gains in the previous session, mainly weighed down by losses in healthcare, energy, and utilities.
Traders continued to brace for the release of earnings reports later this week, with Meridian Energy reporting today.
Caution also prevailed ahead of the US PCE price data for guidance on the Fed's monetary policy decision at its upcoming meeting, as well as speeches from FOMC officials at the Jackson Hole Symposium later this week.
An upbeat session on Wall Street overnight also prevented the index from falling further, buoyed by strong tech sectors, easing oil prices, and lower US Treasury yields.
Among early decliners were Fisher & Paykel (-0.9%), Hallenstein Glasson (-0.9%), Contact Energy (-0.7%), and Freightways Group (-0.6%).
Meanwhile, Meridian Energy fell 0.5% ahead of the release of earnings, while Channel Infrastructure dropped 0.3%.