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407 stories mentioning S&P/NZX 50 IndexUpdated 1d ago

Trading amid soft New Zealand data pointing to downside CPI risks; miscellaneous shares rose while communications stocks lagged.

International

Asia Week Ahead: PMI Reports; Central Bank Decisions; and Inflation Prints

For the week ahead in Asia, the economic calendar is packed with S&P Global's monthly purchasing managers' index reports, inflation prints, and central bank decisions across the region.Monday brings a slate of S&P Global manufacturing PMI reports for April, alongside Indonesia's inflation and trade figures.On Tuesday, markets will turn to the Reserve Bank of Australia's interest rate decision, while Thailand and the Philippines release April inflation data.Wednesday features South Korea's April inflation print and New Zealand's first-quarter labor-market report, along with PMI readings from India, China, Hong Kong and Singapore.On Thursday, Malaysia's central bank decision will be in focus, alongside Taiwan's April inflation data and the Philippines' first-quarter GDP report.On Friday, Taiwan's April trade data and Malaysia's March industrial production figures will be due, before China closes out the week with April trade figures on Saturday.Here's what to watch in the week ahead.MONDAY, May 4The week kicked off with a slate of S&P Global purchasing managers' index reports covering manufacturing activity during April.Most economies in the region saw a rise in output despite the ongoing conflict in the Middle East which has pushed oil prices upwards.Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Output activity also expanded in South Korea, India, and Taiwan, according to S&P Global.Meanwhile, Vietnam's manufacturing sector also expanded, albeit at a slower pace.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.In contrast, Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified due to material shortages and delays linked to the Middle East conflict.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Manufacturing activity similarly slipped in the Philippines as new orders fell sharply and cost pressures intensified.Indonesia released inflation figures, noting a 2.4% year on year rise in prices during April -- slower than the 3.5% recorded a month prior.The island state also booked a trade surplus of $5.55 billion in the first quarter, supported by a strong non-oil and gas balance despite higher import growth, according to official data released by Statistics Indonesia.The Melbourne Institute released its monthly inflation gauge, noting another increase in April, mainly driven by higher recreation-related prices. The monthly cost of living also increased in April, especially for employees and self-funded retirees.TUESDAY, May 5An interest rate decision in Australia will capture headlines on Tuesday.The Reserve Bank of Australia is likely to rate hikes by 25 basis points to 4.35% as persistent inflation pressures and rising fuel costs linked to Middle East supply disruptions keeps the central bank on a hawkish path even as global peers hold steady.Thailand and the Philippines will release inflation data for April.Economists at ING said they expect the Philippines' headline inflation to rise above 5% as the government passes on the impact of higher global oil prices onto consumers. The Philippines' inflation climbed to 4.1% in March.Thailand is similarly expected to see a rise in consumer prices during April. According to a consensus compiled by Trading Economics, headline inflation could clock in at 1.7% on an annual basis, compared with a 0.08% decline in March.First-quarter gross domestic growth data will be due in Indonesia. DBS said it was forecasting 5.6% growth for the quarter thanks to government spending and festive spending during the period, the Wall Street Journal reported.Hong Kong will similarly release its first-quarter advance GDP growth estimate on Tuesday.Meanwhile, March retail sales figures will be expected in Singapore.On the activity front, S&P Global will release PMI reports manufacturing activity in Thailand and services and composite activity in Australia.WEDNESDAY, May 6Another inflation print, this time in South Korea.Economists at ING said they expect consumer prices to rise at a faster pace in April despite attempts by Seoul to rein in the impact of rising oil costs on consumers. A consensus compiled by Trading Economics indicated headline inflation could clock in at 2.6%.In March, South Korea's annual inflation rose to 2.2%, breaching the central bank's 2% target.First-quarter labor data from New Zealand will also be in the news.CommBank expects headline labor-market figures to remain weak, forecasting just 0.1% quarterly employment growth and a rise in unemployment to 5.5%, compared with Trading Economics consensus estimates of 0.3% employment growth and a 5.4% jobless rate for the first quarter."We do not envisage a labor market recovery until 2027, reflective of adverse impacts from geopolitical ructions," CommBank said in a preview.The Philippines will similarly release labor data for March, as well as industrial production figures.ING said it expects unemployment to edge higher. "On the industry side, weak soft construction activity should continue to weigh on growth," ING said.Additional S&P Global PMI reports covering services and composite activity in India and China, as well as overall activity in Hong Kong and Singapore, will be due.A business confidence report will be due in Thailand, while Hong Kong's March retail sales figures will also be on display.THURSDAY, May 7Malaysia's central bank will meet for its interest rate decision, with no change expected in the 2.75% policy rate.RHB Bank said it expects Bank Negara Malaysia to hold rates as growth remains steady and inflation remains in check, the Wall Street Journal reported.Taiwan's April inflation print will be due, with analysts looking for signs on how the Iran war was weighing in on prices. ING said it expects to see inflationary pressure picking up after limited pass through of energy prices in March.Australia will release March trade figures. The country's trade surplus could fall to A$4.45 billion from the A$5.69 billion recorded in the month prior, according to a consensus compiled by Trading Economics.CommBank said it expects the goods trade balance to decline due to rising fuel imports in the wake of the Iran conflict.The Philippines' first-quarter GDP growth figures will be expected. ING said the Philippines' economy could recover to a growth of 4.3% year on year thanks to favorable base effects and some pick-up in government spending.The Philippines' economy grew by 3% last quarter.Another confidence report covering consumer sentiment will be due in Thailand.FRIDAY, May 8Markets will be on the lookout for Taiwan's trade data for April.ING said it expects the island state's trade surplus to rise to $21.6 billion from $21.3 billion in the month prior. "We're looking for another strong month, with 59.3% YoY export growth and 35.5% import growth," ING said in a preview.In Malaysia, March industrial production figures will be due.S&P Global will release PMI reports covering services and composite activity in Japan.SATURDAY, May 9China will release its April trade data on Saturday.The world's second largest economy could record a surplus of $82.4 billion for the month, rising from $51.13 billion in March, according to a consensus compiled by Trading Economics.Analysts at DBS expect a sharp uptick in surplus, with export growth more than doubling to 8.4% from the 2.5% rise seen in March, the WSJ reported.

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Asia

New Zealand Shares Rise; a2 Milk Co. Recalls US Infant Formula Batches After Toxin Detection

New Zealand shares ended higher on Monday as most Asian indexes saw gains amid hopes of an easing US-Iran war.The S&P/NZX 50 Index rose 0.45% or 58.48 points to close at 13,097.68.US President Donald Trump on Sunday said that the US would begin efforts Monday morning to help free ships stranded in the Strait of Hormuz, describing the move as a humanitarian step to assist neutral countries amid the US-Israeli war with Iran, according to a Sunday Reuters report.In corporate news, a2 Milk Co. (ASX:A2M, NZE:ATM) started a voluntary recall on May 1 of three batches of its a2 Platinum USA infant milk formula, following the detection of cereulide in product manufactured by Synlait Milk (ASX:SM1, NZE:SML).Air New Zealand (ASX:AIZ, NZE:AIR) group capacity rose 4.1% year on year in March, and long-haul available seat kilometers (ASKs) rose 2.5%, while domestic ASKs increased by 3.4%.

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Asia

NZX Midday Sector Update: Industrial Services Stocks Rise, Consumer Non-Durables Decline

Industrial services gained the most among New Zealand sectors on Monday, advancing almost 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained nearly 2% in recent trade.Meanwhile, the consumer non-durables sector declined by almost 7%.a2 Milk Company (NZE:ATM, ASX:A2M) was down past 14% in recent trade.The company on Monday said it started a voluntary recall on May 1 of three batches of its a2 Platinum USA infant milk formula, following the detection of cereulide in product manufactured by Synlait Milk (NZE:SML, ASX:SM1).

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US Markets

ADB Pledges $70 Billion For Energy, Digital Networks Across APAC as Middle East Conflict Batters Outlook

The Asian Development Bank is committing $70 billion to support new energy and digital infrastructure initiatives across the Asia-Pacific region by 2035.ADB President Masato Kanda announced the pledge on Sunday during the lender's annual meeting in Uzbekistan."Energy and digital access will define the region's future," said Kanda. "These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people."The pledge comes as the ADB sharply downgraded its forecast for the APAC region, citing energy disruptions from the ongoing Middle East conflict.On Wednesday, the ADB slashed its GDP growth outlook for developing Asia and the Pacific to 4.7% in 2026 from the previous 5.1% forecast.Inflation for 2026 is projected to accelerate to 5.2% in 2026 from 3% in 2025, before easing to 4.1% in 2027."Our revised outlook is a significant downward revision for growth and a sharp increase in inflation following a special update to reflect the deepening crisis," Kanda said at the time.The bank's new outlook assumes that oil prices average around $96 a barrel in 2026, well above the $69 per barrel average in January and February before the Middle East conflict. The bank expects oil prices to ease to around $80 per barrel in 2027."We are confronting systemic, long-lasting disruptions to global energy and trade networks, not just temporary volatility. ADB will remain an agile partner in protecting the region's economy; tracking fast-moving risks, and moving with urgency to scale up our support," Kanda added.Diesel prices across several Southeast Asian countries have increased by more than 100% since late February, the ADB said in its updated outlook report.The ADB also noted in its Wednesday report that the energy shock is also affecting fertilizer prices, which it said could add to food inflation, particularly for economies most dependent on Middle East imports.Against that backdrop, the ADB is committing $70 billion to build new energy and digital infrastructure in Asia and the Pacific by 2035.The largest investment, worth $50 billion, will be allocated towards cross-border power infrastructure to unlock renewable energy at scale, the ADB said.The project will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalization, according to the lender.By 2035, the bank aims to integrate about 20 gigawatts of renewable energy across borders, connect 22,000 circuit-kilometers of transmission lines, and cut regional power sector emissions by 15%, while improving energy access for around 200 million people.The remaining $20 billion will fund the Asia-Pacific Digital Highway, targeting digital corridors, data infrastructure, and AI-ready economies.The project aims to bring first-time broadband access to 200 million people and cut connectivity costs in remote and landlocked areas by about 40%.The South Korean government will back a new Center for AI Innovation and Development in Seoul with a $20 million contribution. The center will aim to train about 3 million people in digital and AI-related skills by 2035.Separately on Sunday, the ADB also unveiled a Critical Minerals-to-Manufacturing Financing Partnership Facility designed to help the region move beyond mining into higher-value industries such as processing, manufacturing, and recycling.Japan committed $20 million to the grant window, the UK contributed $1.6 million, and the Korea Eximbank and the Korean Trade Insurance Corporation each signed $500 million memorandums as the facility's first partners.

ASX 200^BSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
International

New Zealand's Building Sector Sees Rising Headwinds Despite Lift in Planned Building Work, Says Westpac

Westpac said that while the amount of planned building work has lifted, headwinds in New Zealand's building sector are mounting, according to a Friday report by the bank.The bank said the Middle East conflict has resulted in a sharp rise in fuel costs and related increases in materials costs in the construction sector, with some increases described as substantial, while uncertainty and upward pressure on borrowing costs have also risen as inflation pressures have increased.Westpac said developers are likely to be cautious about initiating new projects given sluggish price growth and the broader headwinds, with the recent uplift in activity potentially giving way to renewed softness later in the year. However, a lift in consent numbers over the past year is expected to see building activity trend higher over the next few months.

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International

New Zealand Consumer Credit Demand Softened in Recent Weeks But Remains Higher Year Over Year, Centrix Says

Consumer credit demand in New Zealand softened in recent weeks with enquiry volumes easing, but it remained up 1.3% year over year, Centrix said in a new report.Mortgage enquiries are up more than 11%, auto loan demand is up over 8%, and personal loan enquiries ticked nearly 8% higher. But on the flip side, credit card demand is down past 17%, and retail energy enquiries have fallen more than 28%.Consumer arrears declined again in March to hit the lowest level since September 2023, although the picture is not uniformly positive as there are still 95,000 consumers who are past 90 days overdue on payments, according to the report.In terms of sectors, agriculture continues to perform well, but there is weakness across the services economy, and hospitality also remains vulnerable, Centrix said.The firm noted that there is a broad expectation among economists and business leaders that the full impact of higher fuel prices has not yet filtered through to credit indicators.

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International

New Zealand Property Listings See 7.3% Annual Rise in April

New Zealand total new property listings rose 7.3% year-on-year to 9,139 in April, while the national average asking price rose 2.2% to NZ$869,023 and total stock increased 3.9% to 37,334, according to data published by realestate.co.nz on Friday.The report said 7,853 properties sold in March, the highest total since November 2021, with Canterbury and Southland both recording all-time average asking price highs.Canterbury's average asking price reached NZ$735,798, up 3.8% on April last year and surpassing the region's previous high of NZ$735,383 set in March 2022, while Southland recorded an average asking price of NZ$617,879, up 17.9% year-on-year and the first time the region reached the NZ$600,000 bracket, the data added.Auckland led new listings growth with a 23.1% rise to 3,422, followed by Bay of Plenty up 10.6% to 617 and Otago up 10.3% to 321, while Marlborough was the only region to record a double-digit decline in average asking price, down 10.1% to NZ$707,013, the data added.Three regions recorded double-digit declines in new listings, with Central North Island down 15.1%, Northland down 14%, and Southland down 10.6% year-on-year, the report showed.

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Asia

New Zealand Shares Rise; Contact Energy Chair to Retire

New Zealand shares ended higher on Friday as most Asian shares saw gains after a Thursday Wall Street rally.The S&P/NZX 50 Index rose 1.05% or 135.89 points to close at 13,039.20.On Thursday, the Nasdaq Composite gained 0.9%, the S&P rose 1%, and the Dow Jones climbed 1.6%.Wall Street gains were helped by tech giant Apple's earnings as the iPhone-maker reported fiscal second-quarter results above Wall Street's estimates, with iPhone revenue coming in stronger than expected.In domestic news, Consumer confidence in New Zealand fell to its lowest in roughly three years in April, as a looming oil shock raised concerns about the broader economic outlook and downside risk for retailers, ANZ said.Further, home values across New Zealand extended a third consecutive monthly rise in April, in a slight surprise, edging up 0.1%, despite a soft start to the year for sales volumes and the Middle East conflict weighing on global economies, property valuation firm Cotality saidAlso, New Zealand's seasonally adjusted new dwellings consents fell 1.3% to 3,370 in March from 3,412 in the previous month, according to Stats NZ data.Meanwhile, New listings up 7.3% year-on-year to 9,139 in April in New Zealand, according to data from realstate.co.nz.In corporate news, Contact Energy (ASX:CEN, NZE:CEN) said Chair Rob McDonald will retire at the conclusion of the upcoming annual shareholder meeting.KMD Brands (ASX:KMD, NZE:KMD) appointed Non-Executive Director Philip Bowman as chair, effective Friday, succeeding David Kirk.

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Asia

NZX Midday Sector Update: Consumer Durables Sector Soars, Energy Minerals Struggle

The consumer durables shares gained the most on New Zealand's Exchange, rising past 3% on Friday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose over 3% in recent trade.The company on Friday said it appointed Non-Executive Director Philip Bowman as chair, effective Friday, succeeding David Kirk.Meanwhile, the energy minerals sector fell below 1%.Shares of Channel Infrastructure (NZE:CHI, ASX:CHI) drove the decline, falling past 1% in recent trade.

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International

New Zealand's Seasonally Adjusted New Dwelling Consents Fall in March

New Zealand's seasonally adjusted new dwellings consents fell 1.3% to 3,370 in March from 3,412 in the previous month, according to Stats NZ data on Friday.In actual terms, 3,677 new dwellings were consented, including 1,729 stand-alone houses, 1,556 townhouses, flats, and units, 127 retirement village units, and 265 apartments.New dwellings consented in the reported month rose 8.2% in actual terms compared with 3,398 in March 2025.In the 12 months ended March, the actual number of new dwellings consented was up 11% to 37,813 compared with the prior corresponding period."New home consents increased in the year ended March, following decreases in each of the previous three years," economic indicators spokesperson Michelle Feyen said.The regions with the highest increase in new home consents in the year ended March were Auckland, up 14%, Waikato, up 3.5%, and Wellington, up 3.8%.The annual value of non-residential building work consented in March rose 1.2% year-on-year to NZ$9 billion.

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International

New Zealand Home Values Extend Third Monthly Upward Streak in April, Says Cotality

Property values across New Zealand extended a third consecutive monthly rise in April, in a slight surprise, edging up 0.1%, despite a soft start to the year for sales volumes and the Middle East conflict weighing on global economies, property valuation firm Cotality said Friday.According to the Cotality NZ's latest Home Value Index, the national median value of $809,101 in April notched up 0.6% from January but remained nearly 17% below the peak seen in 2022.Growth remains uneven across the country, with major cities Auckland and Wellington still witnessing minor declines of 0.1%. In contrast, house prices in Dunedin and Hamilton rose 0.8% and 0.3%, respectively."The bottom line is that the housing market broadly remains in a holding pattern, with buyers enjoying current conditions - or at least those that are secure in their jobs," said ‍Kelvin Davidson, Cotality NZ Chief Property Economist.The central bank is watching closely for any signs of second-round price effects from the Middle East conflict, particularly in wage demands or raised inflation expectations, amid a growing view that it may raise the Official Cash Rate as soon as July.Nevertheless, it would not be a surprise for mortgage rates to gradually rise, with modest house price increases flattening or even reversing, Davidson added.

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International

New Zealand Consumer Confidence Nears Three-Year Low as Oil Shock Weighs, Says ANZ Research

Consumer confidence in New Zealand fell to its lowest read in roughly three years in April, as a looming oil shock raised concerns about the broader economic outlook and downside risk for retailers, ANZ Research said Friday.The ANZ-Roy Morgan Consumer Confidence Index declined 11 points to 80.3 in April from 91.3 in March. The index has also dropped 20 points over the past two months since the Middle East conflict began and pushed up global fuel prices.Expectations for inflation rose by about another full percentage point to 6.6%. The net proportion of households considering it "a good time to buy a major household item" slid 11 points to negative 25, the lowest since September 2024.The firm said it is too soon for the oil shock to have had a meaningful impact on household incomes, and that the decline instead reflects rising cost of living, with a growing wariness among retailers about the future activity levels.However, consumer confidence, now at levels seen in 2022 and 2023, is "clearly hurting" as higher petrol prices dent weekly budgets.While consumer inflation expectations are not the central bank's main focus, as they don't directly influence price setting, the gap between consumer inflation expectations of 6.6% and firms' wage expectations of 2.5% is widening, it added.

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Asia

New Zealand Shares Rise; Synlait Milk Chief Quality Officer Resigns

New Zealand shares rose on Thursday despite a broad-based fall in Asian shares amid fears that the US may strike Iran again.The S&P/NZX 50 Index rose 1.05% or 133.01 points to close at 12,903.31.US President Donald Trump is scheduled to receive a briefing on Thursday from CENTCOM Commander Admiral Brad Cooper on new plans for possible military action against Iran, Axios reported on Thursday, citing two sources familiar with the matter.In domestic news, New Zealand's total lending edged higher in March, driven by a rise in housing and agricultural loans, even as personal consumer and business lending declined, according to data from the Reserve Bank of New Zealand.Further, business confidence in New Zealand turned negative in April, falling to minus 10.6 from 32.5 in the previous month, as inflation indicators continued to trend higher, ANZ Research said.Meanwhile, small businesses in New Zealand are pacing a slow recovery and building on the improvements seen in the second half of last year, with a 3.9% rise in sales in the March quarter, as mounting fuel shock risks remain uncertain, Xero said.In corporate news, Synlait Milk (ASX:SM1, NZE:SML) said that Chief Quality Officer Hila Mory has resigned, effective July 31.T&G Global (NZE:TGG) said it is in talks to sell its New Zealand fresh produce operations to founder J & P Turner and its Fijian and Pacific businesses to Bidfood to focus on its Apples and VentureFruit platforms.

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International

New Zealand Total Lending Rises in March

New Zealand's total lending edged higher in March, driven by a rise in housing and agricultural loans, even as personal consumer and business lending declined, according to data from the Reserve Bank of New Zealand released on Thursday.Total housing loans from registered banks and non-bank lending institutions in New Zealand grew to NZ$395.64 billion in March from NZ$393.61 billion in February. Total personal consumer lending fell to NZ$14.54 billion in March from NZ$14.66 billion in the previous month.Total business lending decreased to NZ$142.66 billion in the period, from NZ$142.76 billion. Meanwhile, agricultural lending climbed to NZ$63.63 billion in March, from NZ$63.39 billion in the previous month.

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International

Business Confidence in New Zealand Turns Negative in April, ANZ Says

Business confidence in New Zealand turned negative in April, falling to minus 10.6 from 32.5 in the previous month, as inflation indicators continued to trend higher, ANZ Research said in a Thursday report."Firms are understandably concerned about the outlook for their activity and profitability in the face of this significant cost shock," the research firm said, adding that it remains a "very challenging time" to run a business.However, the negative 10.6 reading is higher than the minus 22.5 average seen in late-March responses, indicating that at least some of the initial confidence shock has waned.Inflation expectations rose to 3.8% in April from 3.1% in March, but pricing intentions did not rise any further, which should be somewhat reassuring for the Reserve Bank of New Zealand, ANZ Research said.Reported past activity, the best indicator of GDP in the survey, was steady in April.

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Asia

NZX Midday Sector Update: Consumer Durables Sector Soars, Non-Energy Minerals Decline

Shares of the consumer durables sector gained the most on New Zealand's Exchange, rising past 3% on Thursday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose over 3% in recent trade.Meanwhile, non-energy minerals shares fell 1%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 1% in recent trade.

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International

New Zealand Small Businesses Continue Slow Recovery, Says Xero

Small businesses in New Zealand are pacing a slow recovery and building on the improvements seen in the second half of last year, with a 3.9% rise in sales in the March quarter, as mounting fuel shock risks remain uncertain, Xero said Thursday.According to Xero Small Business Insights (XSBI) data, an uptick in jobs signals that small business owners are starting to feel a bit more confident about the sustainability of the sales recovery. However, this confidence is likely to be tested in the coming months in light of high fuel prices triggered by the Middle East conflict.The latest consumer price index, which rose 3.1% in the March quarter, did not reflect a broad-based rise in inflation and suggests XSBI sales growth is an indicator of "genuine improvement in activity" rather than being driven by higher prices, the firm added.Sales grew across industries, with other services and retail trade leading the gains, climbing 5.4% and 5.1% in the quarter, respectively.The external shock from increased fuel prices and concerns regarding fuel availability comes at a time when the economy is continuing to build, and hurts small businesses directly through rising costs and reduced customer spending on non-fuel goods and services.The firm said current fuel stocks in the fuel-import-dependent country are "sufficient" and advised small businesses to buy fuel as normal.

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Asia

New Zealand Shares Flat; Taiko Critical Minerals Secures Nearly NZ$8 Million in Capital Raise

New Zealand shares ended flat and Asian shares were mixed on Wednesday after a sell-off on Wall Street as US-Iran peace talks continue to stall.The S&P/NZX 50 Index was little changed to close at 12,770.30.On Tuesday, the S&P fell 0.5%, the Nasdaq lost 0.9%, and the Dow Jones decreased 0.05%.The United Arab Emirates will leave the Organization of the Petroleum Exporting Countries on Friday, in a move that Rystad Energy said makes the cartel "structurally weaker."In domestic news, Reserve Bank of New Zealand Governor Anna Breman said New Zealand cannot avoid being "buffeted" by global forces stemming from the Middle East conflict, with the impact to be felt differently across sectors, regions, and households, according to a statement.Further, house prices in New Zealand rose 0.8% in the three months to March, but are forecast to fall by 2% over 2026, ANZ saidAlso, New Zealand saw NZ$54.7 million wiped from property asking prices in the first quarter as sellers priced at levels closer to what buyers expect to pay, according to a Wednesday report from realestate.co.nz.Meanwhile, total new residential mortgage lending in New Zealand rose to NZ$9.5 billion in March from NZ$6.64 billion in February, according to data from the Reserve Bank of New Zealand released on Wednesday.Finally, New Zealand's first-quarter unemployment rate is expected to remain steady at 5.4%, slightly lower than the previous forecast of 5.5%, according to a report by ANZ released on Wednesday.In corporate news, Taiko Critical Minerals (NZE:TCM) reported strong progress in the March quarter, securing NZ$7.9 million through a rights issue and shortfall placement.Rua Bioscience (NZE:RUA) said the Australian market has experienced "significant contraction" in medical cannabis prescribing volumes amid a Therapeutic Goods Administration review of the safety of unapproved products.

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International

New Zealand House Prices Forecast to Decline by 2% Over 2026, ANZ Says

House prices in New Zealand rose 0.8% in the three months to March, but are forecast to fall by 2% over 2026, ANZ said in a report on Wednesday.Prices in the South Island continued to trend higher, with local economies bolstered by growth in agriculture and tourism. The Auckland and Wellington markets also saw prices rise slightly from their low points a few months ago. ANZ said this was likely due to an economic recovery underway and the interest rates being set at a low level.The New Zealand housing market was showing signs of strengthening before the conflict in the Middle East. However, the resultant fuel price shock has weakened the outlook for economic growth and is pushing up inflation.A big negative for the housing market is likely to come from upward pressure on interest rates. ANZ forecast that the Reserve Bank of New Zealand will raise the official cash rate three times this year towards 3%, starting in July.Another headwind for house prices is the upcoming general election, including the Labour Party's commitment to introduce a capital gains tax on residential investment property and commercial property.Median mortgage rates of one year and longer are all up, with the biggest change seen in two-year and five-year rates, per the report.

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International

New Zealand Property Sellers Wipe NZ$54.7 Million From Asking Prices in Q1, Realestate.co.nz Says

New Zealand saw NZ$54.7 million wiped from property asking prices in the first quarter as sellers priced at levels closer to what buyers expect to pay, according to a Wednesday report from realestate.co.nz.The total value of price reductions fell by more than NZ$8 million year over year in what the report described as a shift from a year earlier. The results come despite more properties hitting the market than in the year-ago period, and the total value of new listings rising by almost $800 million.Across the country, vendors who cut their asking price in the first quarter did so by an average of NZ$33,212 per listing."More listings would normally mean more discounting, but that's not the case this quarter," said Vanessa Williams, a spokesperson for the online real estate marketplace."The data tells us that sellers are reading the room and pricing their properties closer to what buyers are willing to pay," Williams added.The report noted that overall, the amount that vendors are cutting their prices has been trending lower during the last two years.

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