S&amp;P/NZX 50 Index

New Zealand Card Spending Falls 0.3% in May, Says Westpac

New Zealand spending on a per-person basis on Westpac-issued debit and credit cards fell 0.3% in May, adjusted for seasonal swings, with spending effectively tracking sideways since the start of the year, according to a Tuesday Westpac report.The bank said fuel spending declined as petrol prices eased, although prices remain well above pre-conflict levels, while grocery spending also eased modestly as buyers shifted toward essentials over discretionary items amid cost-of-living pressures.May saw a bounce in travel-related spending, but it remains well below levels seen in early 2026, while spending in restaurants and on takeaways picked up again, aided by the easing in fuel prices, the report added.Despite the pickup in hospitality spending, many operators reported tough trading conditions, and spending on other entertainment activities continued to ease, it added.

New Zealand National Home Values in May Just 0.2% Lower Year-over-Year, QV House Price Index Says

New Zealand national average home values in May reached NZ$912,190, 0.3% higher in the three months to the end of May and 0.2% less than the same period in the previous year, according to the QV House Price Index released on Tuesday.This was 14.2% below the market's previous peak in early 2022.The figures pointed to a housing market that remained broadly stable but which was increasingly patchy around the edges, QV spokesperson Simon Petersen said. "There's a steady supply of houses for sale and enough buyers to meet the market, but not nearly enough competition to drive prices upward in any major way."However, relative affordability and a strong local economy are helping to support demand in parts of the South Island, especially in and around Invercargill and Southland in general, Petersen added.The Auckland region's average home value was unchanged at NZ$1.2 million in May, 22.3% below its previous peak, and 2.8% lower than the same time in the previous year.The average home value in Christchurch increased by 1.6% to NZ$808,601 in the three months to May.Meanwhile, Wellington City's average home value increased by 0.2% in the quarter to NZ$910,286, which is 27.6% below its previous peak.

New Zealand Business Financial Data Industries Report Sales of NZ$200 Billion in March Quarter

New Zealand business financial data industries reported sales of NZ$200 billion in the March quarter, up 5.3%, or NZ$10 billion, from the March 2025 quarter, according to figures released by Stats NZ on Tuesday.Purchases were NZ$140 billion, up 4.8%, or NZ$6.4 billion, while salaries and wages were NZ$32 billion, up NZ$892 million.Meanwhile, operating profit was NZ$29 billion, up 11%, or NZ$2.8 billion, compared with the same period last year.When adjusted for seasonal effects, the total value of wholesale trade sales rose 8.8% in the March quarter to NZ$42.29 billion, while total manufacturing sales were up 3.9% to NZ$35.61 billion, per the report.

New Zealand Total Actual Filled Jobs Inch Down in the March Quarter

Total actual filled jobs in New Zealand inched down to 2.26 million in the March quarter from 2.27 million in the December 2025 quarter, according to data published by Stats NZ on Tuesday.Total seasonally adjusted filled jobs were up 0.1% over the same period, the report said.The largest changes in seasonally adjusted filled jobs in the March quarter compared with the December 2025 quarter were in transport, postal and warehousing, up 0.9% or 834 jobs, and education and training, up 0.3% or 728 jobs, the data showed.At a regional level, Canterbury recorded the largest increase in seasonally adjusted filled jobs, up 0.5% or 1,507 jobs, followed by Waikato, up 0.5% or 1,042 jobs, the data added.Total gross earnings for the year ended March rose 2.7% to NZ$4.8 billion, with the largest annual increases in health care and social assistance, up 4.7% or NZ$1.1 billion, education and training, up 6.6% or NZ$943 million, and public administration and safety, up 3.7% or NZ$608 million, it added.

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International54d ago

Asia Week Ahead: Inflation Prints; GDP Estimates; and Trade Balance

For the week ahead in Asia, inflation, trade and growth data will be in focus as investors assess the region's economic momentum.The week opens with Japan's revised first-quarter GDP figures, followed by trade data from China and Taiwan on Tuesday.Mid-week, China's consumer and producer inflation reports will dominate headlines, while Japan will release producer price data.Thursday will be led by unemployment figures from South Korea and Malaysia, before Friday brings India's inflation report.Here's what to watch in the week ahead.MONDAY, June 8The week was off to a relatively light, but notable start with Japan's first-quarter GDP growth rate.Japan's economy expanded at an annualized rate of 1.8% in the first quarter, according to final data released by the Cabinet Office. The reading was revised down from the preliminary estimate of 2.1% growth, but exceeded the market consensus forecast for a 1.3% increase, according to Trading Economics.The data comes as attention turns to the Bank of Japan's June 15-16 policy meeting, where policymakers are expected to consider another interest-rate increase. The growth figures are unlikely to derail expectations for further policy tightening.TUESDAY, June 9Data readouts will pick up Tuesday, starting with China's trade figures for May.Economists at ING said they expect China's exports to rise 19.5% year-on year and imports to gain 36.4% for a trade surplus of $86.5 billion. The surplus would be an increase from the $84.8 billion recorded in April, thanks in part to higher tech prices, which are boosting both export and import prices, ING said.Taiwan will similarly report trade figures, with ING expecting the island nation's trade surplus to rise to $15.5 billion from $14.4 billion in April. "Strong export orders from previous months suggest external demand remains robust amid the AI boom," ING said in a preview.Markets will be watching for any revisions to South Korea's first-quarter GDP growth rate when the Bank of Korea releases its final estimate on Tuesday.The central bank's advance estimate indicated that South Korea's real GDP increased 3.6% annually and 1.7% on a quarterly basis.In Australia, a pair of reports will capture business and consumer sentiment, while in the Philippines, unemployment stats will be due.Other key data scheduled for the day include Japan's machine tool orders.WEDNESDAY, June 10China's consumer and producer price inflation will dominate headlines Wednesday.Consumer prices are expected to show an uptick of 1.3% year on year in May from 1.2% a month prior, reflecting higher manufacturers' input and output prices due to the Middle East conflict, the Wall Street Journal reported.Japan will similarly report its May producer prices, with analysts expecting the PPI to accelerate to 5.5% year on year from 4.9% in April, according to a Trading Economics consensus.Indonesia will release its May consumer confidence report on the same day.THURSDAY, June 11Unemployment data from South Korea and Malaysia will be the highlight of the day.According to Trading Economics, South Korea's unemployment rate could remain unchanged at 2.80% in May. The platform similarly forecasted that Malaysia's unemployment would remain steady at 2.90%, a level it has held since November 2025.A forward-looking report on consumer inflation expectations will be due in Australia. According to Trading Economics, consumer inflation expectations could rise to 6.5% for June from the 5.6% estimated in May.Meanwhile, Indonesia will report its retail sales stats for April.FRIDAY, June 12India's May inflation data will be in the news Friday.Economists at ING said they expect consumer prices to pick up to 3.9% year on year from the 3.48% recorded in the month prior due to a rise in gasoline prices. Still, the figure would be below the Reserve Bank of India's 4% target."The key risk to the outlook lies in potential second-round effects on food inflation. Fertiliser shortages, alongside the rising probability of an El Niño event, could exert upward pressure on food prices in the coming months and warrant close monitoring," ING said in a preview.Friday will also feature industrial production reports from Japan, Malaysia, and Hong Kong, with Malaysia additionally reporting its retail sales stats for April.In Thailand, the consumer confidence report for May will be due.On the activity front, the Business NZ manufacturing purchasing managers' index report will be due in New Zealand. CommBank said it expects manufacturing activity in May to stabilize, or even lift somewhat, given a decline in fuel prices over late April and May.The Business NZ PMI previously dropped to 50.5 in April from 52.8 in March.

Asia57d ago

New Zealand Shares Rise; Infratil Allocates AU$200 Million of Capital Bonds Under Offer

New Zealand shares ended higher on Friday, while most Asian shares saw a sell-off as a peace deal in the Middle East remains elusive.The S&P/NZX 50 Index rose 0.46%, or 60.36 points, to close at 13,161.97.The Lebanon-based Hezbollah has rejected a new ceasefire on Thursday, and Israel said it will not withdraw its troops from Lebanon, according to a Thursday Reuters report.In domestic news, New Zealand's total new lending decreased to NZ$14.17 billion in April from NZ$15.13 billion in March, according to data from the Reserve Bank of New Zealand.In corporate news, Infratil (ASX:IFT, NZE:IFT) said its capital bond offer closed after it allocated AU$200 million of unsecured, subordinated, repayable, cumulative, interest-bearing capital bonds maturing on June 15, 2057, including AU$50 million of oversubscriptions.Spark New Zealand (NZE:SPK, ASX:SPK) launched Verified Call, a feature that helps customers identify legitimate Spark calls by displaying the company's name, logo, a verified badge, and the reason for calling on the mobile phone screen before picking up.

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International57d ago

New Zealand's Total New Lending Falls in April

New Zealand's total new lending decreased to NZ$14.17 billion in April from NZ$15.13 billion in March, according to data from the Reserve Bank of New Zealand released on Friday.New lending fully secured by residential mortgage fell to NZ$8.3 billion in April from NZ$8.68 billion in the previous month.Personal consumer new lending decreased to NZ$223 million from NZ$259 million. New lending for business fell to NZ$4 billion from NZ$4.38 billion.Lending for agricultural purposes fell to NZ$1.29 billion from NZ$1.42 billion. Other new lending decreased to NZ$345 million from NZ$384 million.

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Asia57d ago

NZX Midday Sector Update: Producer Manufacturing Soars, Consumer Durables Fall

Producer manufacturing shares gained the most on New Zealand's Exchange, rising past 1% by midday Friday.Skellerup Holdings (NZE:SKL) shares rose 1% in recent trade.Meanwhile, the consumer durables sector fell 1%.KMD Brands (NZE:KMD, ASX:KMD) was down 3% in recent trade.

Asia58d ago

New Zealand Shares Flat; Henderson Far East Income Reports Net Asset Value

New Zealand shares ended flat on Thursday, while Asian shares saw broad-based losses following a sell-off on Wall Street's Wednesday session.The S&P/NZX 50 Index was little changed to close at 13,101.61.On Wednesday, the S&P 500 lost 0.7%, the Nasdaq Composite fell 0.9%, and the Dow Jones declined 1.2%.In domestic news, New Zealand's seasonally adjusted total building volume fell 3.5% in the March quarter compared with the December 2025 quarter, data from Stats NZ showed.Also, the national median home value in New Zealand held steady in May at NZ$808,187, unchanged from April but down 0.1% over the past three months, according to Cotality's Home Value Index.Further, the ANZ World Commodity Price Index climbed 0.7% month over month in May, with all commodity groups in the index seeing incremental gains, according to a report from ANZ Research.Meanwhile, overall card spending in New Zealand rose 1.8% in May in seasonally adjusted terms, up 4.8% compared with the same period last year, with a notable bounce-back at discretionary-type stores, ANZ said in a reportIn corporate news, Henderson Far East Income's (NZE:HFL) unaudited net asset value, including current fiscal year revenue items, was 2.651 pounds sterling per share as of Tuesday.Bankers Investment Trust's (NZE:BIT) unaudited net asset value was 1.605 pounds sterling per share as of Tuesday.

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New Zealand Property Values Flat in May, Cotality Says

The national median home value in New Zealand held steady in May at NZ$808,187, unchanged from April but down 0.1% over the past three months, according to Cotality's Home Value Index released Thursday.Values were 0.6% lower than a year earlier and remain 17% below the early 2022 peak of NZ$974,002.Among the main centers, Christchurch led monthly gains with a 0.4% rise, while Dunedin and Tauranga each edged up 0.2%, and Hamilton added 0.1%. Auckland and Wellington continued to slide, falling 0.2% and 0.3% respectively."There are differing patterns beneath the surface. Key areas, including Auckland and Wellington, are still subdued, while even 'strong' markets such as Christchurch or Invercargill aren't racing away," saidCotality NZ Chief Property Economist, Kelvin Davidson.Auckland's modest overall decline in May was broad-based, with nearly all sub-markets slipping 0.2% or 0.3%. The exceptions were Rodney, which gained 0.2%, and Franklin, which was unchanged."The longer the OCR stays on hold, the greater the chances inflation is harder to rein back in again, which will tend to put more upwards pressure on mortgage rates," Davidson added.Davidson warned that upward pressure on mortgage rates raises the risk of a more pronounced economic slowdown, which could weigh on household confidence, the labor market, and both property sales and prices."All in all, housing market conditions remain challenging. Having previously anticipated sales volumes rising from around 90,000 in 2025 to 100,000 this year, the market may actually do well to hold at similar levels to last year. This points to a sluggish outlook for values too," Davidson said.

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Asia58d ago

NZX Midday Sector Update: Consumer Durables Sector Soars, Miscellaneous Sector Struggles

Consumer durables shares gained the most on New Zealand's Exchange, rising almost 4% on Thursday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose nearly 4% in recent trade.Meanwhile, miscellaneous shares fell by more than 2%.Shares of Marlin Global (NZE:MLN) drove the decline, falling past 1% in recent trade.

ANZ Commodity Price Index Rises in May

The ANZ World Commodity Price Index climbed 0.7% month over month in May, with all commodity groups in the index seeing incremental gains, according to a Thursday report from ANZ Research.Over the past year, the index rose 1.3%, with wool jumping more than 75%, aluminum rising over 49%, and beef up more than 25%.Dairy prices slipped 0.1% sequentially during the month and were down over 11% annually, with higher milk powder prices offsetting lower butter prices, per the report. Over the past year, skim milk powder prices were up nearly 26%, while butter prices were down more than 29%.Meanwhile, the meat and fiber index edged 0.4% higher from April. Beef and lamb prices were stabilizing near record-high levels, and wool prices increased 14% month over month. Wool is benefiting from strong demand and low supply, tilting the balance toward higher prices, ANZ said.The horticulture index jumped 3.4% in May, as New Zealand's main produce hit supermarket shelves overseas and early price indications were encouraging.The forestry index was up just 0.6% in the month. In-market log prices jumped roughly 12% since the Middle East conflict started, but these higher prices are going toward higher shipping costs, according to the report.Aluminum prices jumped 1.8% month over month and continued to strengthen due to damaged production facilities in the Persian Gulf, ANZ said. The Middle East accounts for around 8% to 9% of global production, and production out of this region was down 35% from pre-conflict levels.

New Zealand Card Spending Rises Nearly 2% in May, ANZ Says

Overall card spending in New Zealand rose 1.8% in May in seasonally adjusted terms, up 4.8% compared with the same period last year, with notable bounce-back at discretionary-type stores, ANZ said in a report on Thursday.Monthly and annual growth improved across nearly all categories in May, with each category experiencing higher monthly spending growth compared to April, although annual growth showed mixed results.Hospitality recorded a 3.5% month-on-month increase and 5.9% year on year, while apparel reached a 2.9% month-on-month rise, 3.4% year on year.Housing durables rose 2.7% month on month and 9.5% year on year.Motor vehicles and fuel was the only headline category that recorded a 1% month-on-month decline in May due to a decrease in fuel prices.

New Zealand's Total Building Volume Falls in March Quarter

New Zealand's seasonally adjusted total building volume fell 3.5% in the March quarter compared with the December 2025 quarter, Thursday's data from Stats NZ showed.Residential building volume fell 2.2%, while non-residential volume declined 4%.Meanwhile, excluding cost changes or seasonal effects, the actual value of building work fell 5.9% year-on-year to NZ$7.2 billion in the March quarter.Residential building work declined 2.5% to NZ$4.6 billion, while non-residential work fell 11% to NZ$2.6 billion. The actual value of total building work declined across most regions, led by a 5.2% drop in Auckland to NZ$2.8 billion.

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Asia59d ago

New Zealand Shares Fall; Napier Port Holdings Completes Share Repurchase Program

New Zealand shares ended lower on Wednesday despite a rise in most Asian shares.The S&P/NZX 50 Index fell 0.42%, or 55.63 points, to close at 13,115.08.Investors looked past geopolitical tensions to focus on the tech sector. Citing people familiar with the matter, Reuters reported that SpaceX is targeting a $1.75 trillion valuation in its initial public offering."The [tech sector] trend remains positive, with the catalyst for further material gains possible with a resolution with Iran," said veteran strategist Louis Navellier, as quoted by Bloomberg.In domestic news, New Zealand's seasonally adjusted new dwellings consents rose 11% to 3,802 in April from 3,429 in the previous month, according to Stats NZ dataAlso, a total of 14,364 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 13,601 to 17,661 MT, according to data from the trading platform.Further, New Zealand recorded two-way international trade of NZ$60.9 billion for the March quarter, up 6.3% from a year earlier as both exports and imports increased, according to Stats NZ data.Meanwhile, the national average asking price for property in New Zealand remained nearly flat in May, down just 0.2% year over year to NZ$862,518, realestate.co.nz said.Finally, there are signs of gradual improvement in New Zealand's credit landscape despite a challenging environment, although the recovery remains uneven across products, regions, and sectors, Centrix said in its May Credit Indicator report.In corporate news, Napier Port Holdings (NZE:NPH) completed an on-market share buyback program launched in May, purchasing a total of 312,000 ordinary shares.Pacific Edge (NZE:PEB, ASX:PEB) completed its NZ$36.1 million equity raising at NZ$0.17 per share, comprising a NZ$25.4 million placement and an oversubscribed retail offer that drew NZ$46 million in applications.

Asia59d ago

New Zealand's Average Asking Price for Property Remained Nearly Flat in May, realestate.co.nz Says

The national average asking price for property in New Zealand remained nearly flat in May, down just 0.2% year over year to NZ$862,518, realestate.co.nz said in a Wednesday report.The Central Otago/Lakes District set a new 18-year average asking price record of NZ$1.7 million, an over 20% increase from May 2025.The surge in prices was driven primarily by the Queenstown and Wanaka districts, where average asking prices reached NZ$2 million and NZ$1.7 million, respectively, in May."Lifestyle, landscape, and liveability have become serious price drivers," realestate.co.nz spokesperson Vanessa Williams noted.Taranaki recorded the greatest decline in the average asking price, dropping 9.7% year over year to NZ$678,359.New Zealand saw 9,521 new listings nationally in the month, a 0.3% annual increase and the highest level for May since 2018, while stock levels rose 5% to 36,130 from 34,415 in May 2025.Coromandel saw a more than 48% annual increase in new listings, while Wairarapa saw new listings fall past 11% over the same period, per the report.

International59d ago

ANZ Lifts New Zealand Farmgate Milk Price Forecast for Upcoming Season

ANZ lifted its New Zealand farmgate milk price forecast for the 2026-2027 season to NZ$9.20 per kilogram of milk solids from NZ$8.70, with good dairy commodity prices and a favorable exchange rate, according to a report released Wednesday.Dairy markets are in a relatively good place at the onset of the new season following recent volatility, with product prices starting to stabilize near current levels, the report said.However, dairy prices are anticipated to weaken over the next few months due to strong milk production in all major exporters.Input costs are expected to be higher in the next season following two years of stable costs of production as a result of the conflict in the Middle East and the closure of the Strait of Hormuz, per the report.