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2025-09-17 14:37:59
New Zealand's stock index fell slightly by 0.05% as the market awaits GDP data and the Federal Reserve's decision. ⑴ New Zealand's benchmark S&P/NZX 50 index fell 0.05% to close at 13,228 points on Wednesday, paring earlier losses as investors focused on GDP data to be released on Thursday. ⑵ Market expectations suggest New Zealand's GDP will shrink by 0.3% in the second quarter, reinforcing expectations of two more interest rate cuts before the beginning of next year. ⑶ Global markets are focused on the Federal Reserve's policy decision later today, with a 25 basis point cut widely expected. ⑷ Auckland International Airport fell 1.5%, a2 Milk Company fell 3.2%, the Port of Tauranga fell 1.6%, Spark NZ fell 0.8%, and Heartland Group fell 1.5%, becoming the main drags on the broader market. ⑸ Solid gains in the utilities and real estate sectors, which typically benefit from lower interest rates, partially offset the broader market's decline.
