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2025-07-30 14:16:57
[New Zealand Stock Market Ends Four-Day Rally as Trade Concerns Dragate Market] ⑴ New Zealand's S&P/NZX 50 Index fell 0.6% on Wednesday to close at 12,856 points, ending a four-day winning streak. ⑵ New Zealand products currently face a 10% base tariff from the United States. If a deal is not reached soon, the rate could rise to 15%-20%. The market also expects the Federal Reserve to keep interest rates unchanged this week, further reinforcing wait-and-see sentiment. ⑶ Domestically, New Zealand business confidence continued to improve in July, but forward-looking activity indicators suggest that businesses still face challenges. Logistics company Mainfreight's stock price plummeted 9.6%, becoming the biggest drag. The company had a weak start to fiscal 2026, with profits in all three major divisions declining.
