Shares in New Zealand fell by 58 points, or 0.5%, to 12,371 around noon on Friday, after gaining in the previous month and touching their lowest level in over two weeks, weighed down by industrials, consumer staples, and financials.
The NZX 50 tracked a fall on Wall Street overnight amid uncertain global trade conditions.
Traders continued to monitor global trade after Canada delayed a planned second wave of retaliatory tariffs on U.S. products until April 2, following President Trump’s decision to exempt goods from both Canada and Mexico from the 25% tariffs imposed earlier this week.
Caution also built ahead of the release of China trade data later today, amid the escalation of trade tensions with the U.S. Among the early losses were FC Investment (-2.1%), Auckland International Airport (-1.8%), Ebos Group (-1.0%), and Contact Energy (0.8%.
For the week, markets are on track for a 1.8% plunge, marking the third consecutive weekly loss amid ongoing global trade uncertainty.