NZX 50 Snaps 3-Day Winning Streak, Ends 0.6% Lower
The NZX 50 shed 78 points, or 0.6%, to 13,750 on Tuesday, halting gains from the previous three sessions, mainly weighed down by industrials, energy, materials, technology, and communication services. The broader index tracked a decline in the Nasdaq on Wall Street overnight, led by losses in the tech sector. Traders continued to monitor the Middle East conflict and oil prices amid reports of Russian diesel exports. Caution mounted ahead of the release of New Zealand's food inflation and business PMI data due later this week. Traders also awaited US inflation data for clues about the Fed's interest rate decision at its upcoming meeting, as well as China's September CPI, PPI, and trade data amid weak domestic demand and rising oil prices. Among the biggest decliners were Chorus (-3.3%), Auckland International Airport (-2.8%), Skellerup Holdings (-2.3%), Vista Group International (-2.1%), Freightways Group (-1.8%), and Summerset Group (-1.3%).
6%, to 13,750 on Tuesday, halting gains from the previous three sessions, mainly weighed down by industrials, energy, materials, technology, and communication services. The broader index tracked a decline in the Nasdaq on Wall Street overnight, led by losses in the tech sector. Traders continued to monitor the Middle East conflict and oil prices amid reports of Russian diesel exports. Caution mounted ahead of the release of New Zealand's food inflation and business PMI data due later this week.
Traders also awaited US inflation data for clues about the Fed's interest rate decision at its upcoming meeting, as well as China's September CPI, PPI, and trade data amid weak domestic demand and rising oil prices. 3%).