New Zealand’s benchmark S&P/NZX 50 index closed 0.8% lower to 12,011 on Tuesday, reversing gains from the previous session, as losses across most sectors—particularly transportation and utilities—weighed on the market.
Investor caution also persisted amid uncertainty over US tariffs, though concerns eased somewhat after the US announced a rollback on consumer electronics tariffs and Trump suggested potential exemptions on existing auto-related tariffs.
Domestically, food inflation data rose to an over a year high in March, which supports the case for a less accommodative stance from the RBNZ. Investors are now awaiting key economic indicators this week—including the Q1 consumer inflation report and March trade balance—for further insights into price pressures and broader economic conditions.
Notable losses among transport and utilities stocks included Auckland International Airport (-1%), Port of Tauranga (-2.1%), Meridian Energy (-1.4%), and Mercury NZ (-1.3%).