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Transportation stocks advanced more than 2% at midday Thursday.Shares of Air New Zealand (NZE:AIR, ASX:AIZ) rose 5% in recent trade.Meanwhile, the energy minerals sector fell almost 2%.Shares of Channel Infrastructure (NZE:CHI, ASX:CHI) drove the decline, falling nearly 1% in recent trade.
New Zealand's housing market is softening, in line with the deterioration in the wider economic backdrop since the sharp rise in fuel prices, ANZ said in a report on Wednesday.House prices fell in April across regions, while sales volumes also declined. Though the slowdown remains modest to date, the wider suite of indicators points to only slightly falling prices.House prices in New Zealand have increased at an average pace of 6% per year since 1992. Higher fuel costs, rising interest rates, and elevated uncertainty are all set to keep the housing market subdued this year. The prices might increase more slowly in the coming decades than they have in the past, potentially at an average pace of around 4% per year.The earlier high rate of house price growth was driven primarily by a long-running downward trend in interest rates, decent per capita income growth, and slow growth in housing supply. An average rate of 4% increase per year has been more typical internationally, and would broadly match income growth.Sustained increases in wholesale interest rates could put upward pressure on mortgage rates.
New Zealand shares ended lower on Wednesday amid broad-based losses in Asian shares as inflation fears drove bond yields higher.The S&P/NZX 50 Index fell 1.64% or 213.29 points to close at 12,761.03.The 10-year US Treasury rose to 4.663%, while the 30-year yield climbed to 5.182%.In domestic news, a total of 12,972 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 12,245 MT to 16,233 MT, according to data from the trading platform.Further, New Zealand's housing market continued losing momentum in April, with sales volumes down 9% year on year and activity across the first four months of the year around 5% below the same period last year, Cotality NZ said in a report.Also, the mean one-year-ahead expected inflation in New Zealand was 5.6% in the June quarter, up from 5.2% in the previous quarter, while the perception of current inflation came in at 7.5%, according to a survey by the Reserve Bank of New ZealandMeanwhile, the Reserve Bank of New Zealand is expected to make no change to the official cash rate on May 27, leaving it steady at 2.25%, with a 50/50 chance of a rate hike in July, ANZ said in a note.In corporate news, Infratil (ASX:IFT, NZE:IFT) agreed to sell 53.5 million shares in Contact Energy (ASX:CEN, NZE:CEN), representing 5% of the utility's issued share capital, via a fully underwritten block trade priced at NZ$9.25 per share, with the deal expected to raise about NZ$495.2 million.Vista Group International (ASX:VGL, NZE:VGL) has secured a six-year agreement with Cinepolis to transition its Mexican circuit to the Vista Cloud operational excellence platform.
The Reserve Bank of New Zealand is expected to make no change to the official cash rate on May 27, leaving it steady at 2.25%, with a 50/50 chance of a rate hike in July, ANZ said in a note on Wednesday.The data since April has been a mix of a stronger starting point, as well as the early signs of the impact on confidence and spending.Fourth quarter gross domestic product was weaker than the February forecast. It showed the economy grew 0.2% quarter-over-quarter, versus the central bank's forecast of an 0.5% increase. Meanwhile, first-quarter consumer price index inflation was stronger than the central bank's expectations, with headline inflation of 3.1% rather than 3%.House prices may have capitulated in April, consistent with anecdotes of a sudden market stop. The performance of manufacturing index and performance of services index are both in contraction territory. ANZ card spending data shows a decline in discretionary spending as customers deal with a sharp increase in necessities and face more economic uncertainty.It won't be obvious what the right thing to do is in the wake of the oil shock. The best the monetary policy committee can do is try to keep in balance the risk of causing unnecessary pain now or risking unnecessary pain later.The analysts added that the market will be sensitive to any messaging, implying only limited tightening, the bank said.
The mean one-year-ahead expected inflation in New Zealand was 5.6% in the June quarter, up from 5.2% in the previous quarter, while the perception of current inflation came in at 7.5%, according to a survey by the Reserve Bank of New Zealand (RBNZ) released on Wednesday.In the June quarter, the inflation rate is expected to rise to a mean of 4.9% in two years and 4% in five years, up from 3.4% and 3.3%, respectively, in the March quarter.Meanwhile, nearly 41% of New Zealanders now expect higher house prices, compared with about 48% in the March quarter. The annual inflation rate for house prices is expected to clock in at a mean of 1.5% in a year and 5.9% in five years.
New Zealand's housing market continued losing momentum in April, with sales volumes down 9% year on year and activity across the first four months of the year around 5% below the same period last year, Cotality NZ said in a report on Wednesday.Buyers remain cautious due to uncertainty regarding the economic outlook, inflationary effects from the Middle East conflict, and the risk of higher mortgage rates, Cotality NZ Chief Property Economist Kelvin Davidson said.Additionally, national property values remained flat, with the Cotality Home Value Index recording a 0.1% increase for the month and a 0.6% lift across the three months to April, but values nationally remained 0.8% lower over the past year and nearly 17% below peak levels.First home buyers continued to account for an elevated share of purchases, making up 28% of activity in April nationally and more than 30% in Auckland.
Technology services shares gained the most on New Zealand's Exchange, rising almost 6% by midday Wednesday.Shares of Vista Group (NZE:VGL, ASX:VGL) rose 18% in recent trade.Meanwhile, shares of the distribution services sector fell 2%.Shares of Vulcan Energy (NZE:VSL, ASX:VSL) were down 2% in recent trade.
A total of 12,972 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 12,245 MT to 16,233 MT, according to data from the trading platform.The average selling price for whole milk powder was $3,772 per MT, anhydrous milk fat averaged $6,344 per MT, and mozzarella and butter averaged at $4,127 per MT and $5,674 per MT, respectively.Additionally, cheddar prices averaged $4,560 per MT, lactose averaged $1,529 per MT, and skim milk powder averaged at $3,552 per MT.
New Zealand shares ended higher on Tuesday as US President Donald Trump decided to pause attacks on Iran.The S&P/NZX 50 Index rose 1.66% or 211.40 points to close at 12,974.32.Trump on Monday said that there was now a "very good chance" of reaching a nuclear deal with Iran as Tehran sent a peace proposal to Washington, according to a Monday Reuters report.In domestic news, New Zealand's output producer price index (PPI) rose 0.8% in the March quarter, while input PPI increased by 1.4% compared with the preceding three-month period, Stats NZ data showedAlso, New Zealand's electronic card spending fell 1.6% month over month to NZ$9.65 billion in April on a seasonally-adjusted basis, compared with the 1.1% increase recorded in the previous month, according to data from Stats NZ.In corporate news, Contact Energy (ASX:CEN, NZE:CEN) said retail mass-market electricity and gas sales increased year on year in April, alongside a rise in wholesale contracted electricity sales.Delegat Group (NZE:DGL) said its harvest for the year yielded 38,255 tonnes, down 19% from its 2025 harvest of 47,461 tonnes.
Health technology stocks gained the most on New Zealand's Exchange, rising nearly 3% by midday Tuesday.Fisher & Paykel Healthcare (NZE:FPH, ASX:FPH) shares climbed 3% in recent trade.On the other hand, consumer durables shares fell more than 3%.KMD Brands (NZE:KMD, ASX:KMD) shares slid past 3% in recent trade.
New Zealand's output producer price index (PPI) rose 0.8% in the March quarter, while input PPI increased by 1.4% compared with the preceding three-month period, Stats NZ data showed Tuesday.Output PPI pertains to prices received by producers, while input PPI refers to prices paid by producers.The largest output industry contributions were dairy product manufacturing, dairy cattle farming, and electricity and gas supply.The largest input industry contributions were dairy product manufacturing, electricity and gas supply, and meat and meat product manufacturing.Elsewhere, the farm expenses price index increased by 1.7%, while the capital goods price index inched up 0.2%.On an annual basis, output PPI rose 2.2% in the March quarter, while input PPI increased 1.8%. Capital goods prices rose 1.2%, and prices paid by farmers went up 4.6%.
New Zealand's electronic card spending fell 1.6% month over month to NZ$9.65 billion in April on a seasonally-adjusted basis, compared with the 1.1% increase recorded in the previous month, according to data from Stats NZ on Tuesday.Retail spending fell 1.3% to NZ$6.98 billion, following a 0.7% increase in March.Core retail spending, which comprises consumables, durables, hospitality, and apparel, fell 1.3% to NZ$6.25 billion, following a 0.3% decrease in the previous month.Services spending via electronic cards fell 3% to NZ$386 million, compared with a steady level in the prior month. Excluding services, spending in non-retail industries fell 4% to NZ$2.27 billion, following a 2.2% increase in the previous month.
For this week in Asia, the economic calendar features a busy slate of macro releases across the region.The week begins with a slew of closely watched indicators from China, including industrial production and unemployment data.On Tuesday, markets turn to Japan's first-quarter GDP estimates and Malaysia's April inflation print.Wednesday features policy decisions in Indonesia and China, along with trade data from Taiwan.Thursday brings Japan's latest trade figures and Australia's closely watched labor market report. On Friday, Japan returns to the spotlight with its April inflation print.Here's what to watch in the week ahead.MONDAY, May 18The week kicked off with a flurry of macro releases from China.Industrial production: A 4.1% year-over-year expansion was recorded in April, sharply slowing from the 5.7% growth in March and way below expectations of a 5.9% rise.Retail sales: Growth decelerated to 0.2% year on year in April, versus 1.7% a month prior.Unemployment: The rate eased to 5.2% in April from 5.4% a month earlier.Meanwhile, prices of new residential properties in China's first-tier cities grew 0.1% month on month in April, decelerating from the 0.2% expansion in March.Chinese investments in real estate development fell 13.7% year on year to 2.397 trillion yuan between January and April.Outside China, Thailand reported that its gross domestic product grew at a faster rate of 2.8% in the first quarter of 2026 from 2.5% in the last three months of 2025.In Singapore, April trade showed a 24.5% year on year rise in non-oil domestic exports, extending the 15.3% increase in the previous month.Elsewhere, New Zealand's services sector showed a modest improvement in April but remained in contraction, with persistent cost pressures and global shipping disruptions continuing to weigh on sentiment, according to BusinessNZ.The BusinessNZ Performance of Services Index rose to 48.9 in April from 46.2 in March. A reading below the 50-point mark points to contraction.TUESDAY, May 19Markets will turn their attention to Japan's preliminary first-quarter GDP.Economists at ING said they expect the economy to grow at a similar rate as the previous quarter's 0.3% on a seasonally adjusted basis. "The war's impact on GDP should be minimal in 1Q26," the bank said in a preview.Meanwhile, Malaysia will disclose its April inflation print, with Trading Economics expecting prices to rise at a faster pace than the 1.7% year over year growth seen in March. According to the data platform, Malaysia's CPI could rise at a rate of 2.7%.In Australia, the Reserve Bank of Australia's meeting minutes will add color to the central bank's recent decision to increase the official cash rate by 25 basis points to 4.35%.CommBank said the minutes may provide more details on the board's discussion and how members were assessing the impact of the conflict around Iran.A consumer confidence report, due for release the same day, will capture sentiment over the most recent RBA rate hike and the ongoing conflict in the Middle East.Lastly, Hong Kong will report April unemployment stats on the same day.WEDNESDAY, May 20Bank Indonesia will meet for its monetary policy meeting and could raise rates by 25 basis points to 5% amid a depreciation of the local currency and a shift in expectations for Federal Reserve rate cuts, which bodes unfavorably for the Indonesian rupiah, ING forecasted.China will similarly set its one-year and five-year loan prime rates, with markets expecting no change in the prevailing rates of 3% and 3.5%, respectively.Trade data from Taiwan and Malaysia will be due.Taiwan is once again expected to show a "strong reading" when it releases April export orders data, with growth topping 54% year on year, ING said in a preview.The island nation started the year "quite strongly" amid external demand for its main high-tech products, which is expected to continue, according to the note.Meanwhile, Malaysia's trade surplus is expected to narrow to 10.5 billion ringgit from 24.6 billion ringgit in the month prior, Trading Economics forecasted.The Reuters Tankan Index for May, a key gauge of Japanese business confidence, will be due the same day.THURSDAY, May 21Japan will release several economic indicators on Thursday, including April trade data and March machinery orders.The country is expected to report a trade deficit of 29.7 billion yen for the month, reversing from a surplus of 667 billion yen in March, according to a Trading Economics consensus.New Zealand will similarly report its April trade balance, with analysts forecasting a trade surplus of around NZ$840 million, according to a Trading Economics consensus.Neighboring Australia will report labor data for April. Westpac expects unemployment to remain at 4.3%.Elsewhere, Hong Kong will report April inflation data while Macau will disclose first-quarter retail sales stats. In South Korea, the April producer price inflation data will be due.On the activity front, S&P Global will release flash purchasing managers' index reports covering May manufacturing, services, and composite activity in India, Australia and Japan.FRIDAY, May 22Japan's April inflation print will capture headlines on Friday, giving markets a look into how the energy shock from the Middle East conflict is impacting the economy.Economists at ING said energy effects may have a limited impact on growth but a greater impact on inflation, which is expected to clock in at 1.8% year on year in April -- up from 1.5% in March."Higher energy costs are expected to increase overall inflation. The impact, though, will likely be still less significant than that observed in other Asian and developed countries," ING said in a note.Inflation data will also be due in Macau.Meanwhile, Taiwan could see a marginal drop in its unemployment when it releases April labor stats. According to Trading Economics, Taiwan's jobless rate could go down to 3.3% from 3.35%.New Zealand is expected to see a "muted" rise in real retail sales when reporting its Q1 data, Westpac said in a preview. The bank expects a rise of 0.2% for the first three months of the year, versus the 0.9% growth recorded in the previous quarter. "The latter part of March saw fuel prices rising sharply, and that has been a drag on spending," Westpac said.Lastly, South Korea will release a report capturing consumer confidence for May. ING said it expects consumer sentiment to deteriorate further amid inflation hikes and energy headwinds.
New Zealand shares ended lower on Monday as all Asian shares saw losses after fresh drone attacks in the Gulf region.The S&P/NZX 50 Index fell 1.56% or 202.09 points to close at 12,762.92.A drone strike caused a fire in a nuclear power plant in the United Arab Emirates on Sunday, while Saudi Arabia said it intercepted three drones, according to a Sunday report by Reuters.In domestic news, New Zealand's services sector showed a modest improvement in April but remained in contraction, with persistent cost pressures and global shipping disruptions continuing to weigh on sentiment, according to a statement by BusinessNZ.In corporate news, AFT Pharmaceuticals (ASX:AFP, NZE:AFT) appointed Stuart Houliston as chief financial officer, effective June 15.Gentrack Group (NZE:GTK, ASX:GTK) acquired New Zealand software-as-a-service company Prospero Energy, trading as Factor, in a deal valued at NZ$24 million.
Distribution services shares rose the most on New Zealand's Exchange, gaining past 1% on Monday.Shares of Steel & Tube Holdings (NZE:STU) rose almost 3% in recent trade.Meanwhile, the consumer non-durables sector declined by more than 2%.a2 Milk Company (NZE:ATM, ASX:A2M) was down past 5% in recent trade.
New Zealand's services sector showed a modest improvement in April but remained in contraction, with persistent cost pressures and global shipping disruptions continuing to weigh on sentiment, according to a statement by BusinessNZ on Monday.The BusinessNZ Performance of Services Index (PSI) rose to 48.9 in April from 46.2 in March. A reading below the 50-point mark points to contraction.Rising fuel costs and ongoing disruption to shipping through the Strait of Hormuz have weighed heavily on business sentiment, with more than two-thirds of respondents reporting negative conditions over the past month and little sign of a near-term recovery, said Katherine Rich, BusinessNZ's chief executive.The activity/sales indicator rose to 48.9 in April from 44.7 in March, while the employment measure increased to 48.5 from 46.6. Stocks/inventories inched up to 47.6 from 46.2, supplier deliveries decreased to 46.6 from 47.2, and new orders/business increased to 51.2 from 46.Micro-businesses were struggling in April, with a sub-index of 44.4, while medium to large firms remained in healthy expansion at 55.5, the report said.A rise in the headline index points to slightly improved sentiment, but mixed underlying signals keep the outlook for the New Zealand economy uncertain amid ongoing global headwinds, said Stephen Toplis, BusinessNZ's head of research.The seasonally adjusted BusinessNZ Performance of Composite Index fell as continued weakness in the PSI weighed on activity, although manufacturing showed slight expansion in April.The gross domestic product-weighted and free-weighted indexes both showed a slower contraction in April, standing at 48.6 and 49.4, respectively, compared with 46.9 and 48.7 in March.
New Zealand shares ended lower on Thursday amid a broad-based decline in Asian shares as inflation fears impacted US Treasury bonds.The S&P/NZX 50 Index fell 0.46% or 60.06 points to close at 12,965.01.The US Treasury two-year yield rose to 4.07%, and the 10-year yield rose 4.5% amid investors' expectations of an upcoming Federal Reserve rate hike as inflation pressures rise.In domestic news, petrol and diesel prices in New Zealand increased by nearly 13% and 37%, respectively, in April compared with the previous month, according to a Stats NZ selected price indexes report.Also, New Zealand's manufacturing sector showed only marginal growth in April, as weakening demand and production pointed to a clear slowdown amid rising global uncertainty and softer business conditions, BusinessNZ said.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor.Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system.
Non-energy minerals shares gained the most on New Zealand's Exchange, rising nearly 3% on Friday.Shares of Manuka Resources (NZE:MKR, ASX:MKR) were up almost 7% in recent trade.Meanwhile, the health technology sector fell 3%.Shares of Fisher & Paykel Healthcare (NZE:FPH, ASX:FPH) were down nearly 5% in recent trade.
Petrol and diesel prices in New Zealand increased by nearly 13% and 37%, respectively, in April compared with the previous month, according to a Stats NZ selected price indexes report on Friday."In the two months since February, petrol has increased 33.6% and diesel has increased 94.9%," said prices and deflators spokesperson Nicola Growden.Food prices remained flat in April compared with the previous month, driven by a 0.7% rise in grocery food prices offset by a 2.3% fall in fruit and vegetable prices.Domestic and international airfares rose by 4.2% and 6.2% respectively in April compared with March, while electricity and gas prices increased by 2.4% and 0.3% respectively over the same period."Electricity prices have been increasing every month from December 2024," Growden added.Food prices increased by 2.6% on an annual basis in April, compared with a 3.4% increase in the 12 months to March, driven mainly by a 7.8% rise in meat, poultry, and fish prices, followed by a 2.7% increase in restaurant meals and ready-to-eat food.Petrol and diesel prices both increased over the 12 months to April, rising by over 30% and 91%, respectively.
New Zealand's manufacturing sector showed only marginal growth in April, as weakening demand and production pointed to a clear slowdown amid rising global uncertainty and softer business conditions, BusinessNZ said on Friday.The BusinessNZ Performance of Manufacturing Index (PMI) for April fell to 50.5 on a seasonally adjusted basis from March's 52.8, indicating a slowdown in growth and sitting below the long-term average of 52.5.The proportion of respondents reporting adverse effects on their business performance rose to nearly 64%, up from 62% in March, with many attributing this to the impact of the war involving Iran, said Catherine Beard, BNZ's director of advocacy.Among the sub-indices, production fell to 51.7 from 53.4, finished stocks decreased to 50.5 from 53.8, employment increased to 53.4 from 51.8, deliveries declined to 46.5 from 49.6, and new orders fell to 48.2 from 55.Stephen Toplis, BNZ's head of research, said that PMI had remained "remarkably robust," with March's reading easing from previous months but still above the breakeven line.However, Toplis added that the April survey now suggests the anticipated downturn may have begun.
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