NZX50 Persists at Four-Month Low
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The S&P/NZX 50 index fell 0.6% to 13,118, marking its second consecutive loss and remaining at four-month lows. Most sectors declined, particularly industrials, utilities, and health services. Local data indicated a risk-off sentiment, with a decrease in services PMI and month-on-month credit card spending. Traders are cautious ahead of upcoming food inflation data and the RBNZ's interest rate decision. Notable decliners included Ryman Healthcare (-5.4%), Meridian Energy (-3.1%), Infratil (-2.5%), and Mercury NZ (-1.4%).
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