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^NZ50

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International

New Zealand's Invercargill Bucks National Housing Trend as Home Values Hit New Peak, Says QV

Invercargill home values rose 3% in the April quarter and 9.5% annually to an average of NZ$548,747, making it the only main center to have fully regained the ground lost following the post-COVID market downturn, according to a Thursday report by property services provider Quotable Value (QV).The report said national home values grew just 0.2% in the quarter and fell 0.2% annually, with larger cities such as Auckland down 22.1% and Wellington down 27.4% from their previous highs."Southland has a relatively strong real-economy employment base compared to many other parts of the country, particularly through the agricultural and industrial sectors," said Kylie Helman, QV lower South Island regional manager.The wider Southland region also recorded a positive start to 2026, with the average home value increasing 2.5% to NZ$545,033 in the April quarter, QV added.

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Asia Markets

New Zealand Shares Fall; Synlait Milk CEO Resigns

New Zealand shares ended lower on Thursday despite a higher Wall Street close, followed by a broad-based rise in Asian shares.The S&P/NZX 50 Index fell 0.29% or 37.99 points to close at 13,025.07.On Wednesday, the Nasdaq Composite moved up by 1.2%, the S&P 500 gained 0.6%, while the Dow Jones Industrial Average fe 0.1%."Markets are trying to run two playbooks ⁠at once: AI and earnings [say] buy growth, but geopolitics and energy prices are quietly [rewriting] the inflation trajectory in the background," said Saxo Chief Investment Strategist Charu Chanana, as quoted by Reuters.In domestic news, New Zealand national home sales fell 7.9% year-on-year to 6,262 in April 2026, though the seasonally adjusted sales count declined a more moderate 2.1% compared to March, according to data by the Real Estate Institute of New Zealand (REINZ).In corporate news, Synlait Milk (ASX:SM1, NZE:SML) said that Chief Executive Richard Wyeth has resigned and will remain with the company until June 30 to support the transition process.Vista Group International (ASX:VGL, NZE:VGL) said that its existing client, Regal Cineworld Group, will transition its 88 Cineworld cinemas and more than 950 screens across the UK to Vista Cloud's digital enablement platform this year, following the successful migration of 25 Picturehouse Cinema sites in 2025.

^NZ50ASX:SM1ASX:VGLNZE:SMLNZE:VGL
Asia

NZX Midday Sector Update: Finance Advances, Health Services Decline

Finance shares gained the most on New Zealand's Exchange, rising past 1% by midday Thursday.ANZ Group Holdings (ASX:ANZ, NZE:ANZ) gained almost 2% in recent trade.Meanwhile, health services shares fell almost 2%.Shares of Summerset Group Holdings (NZE:SUM, ASX:SNZ) drove the decline, falling almost 1% in recent trade.

^NZ50ASX:ANZASX:SNZNZE:ANZNZE:SUM
International

New Zealand Home Sales Fall 7.9% Year-on-Year in April, Says REINZ

New Zealand national home sales fell 7.9% year-on-year to 6,262 in April 2026, though the seasonally adjusted sales count declined a more moderate 2.1% compared to March, according to data released Thursday by the Real Estate Institute of New Zealand (REINZ).The national House Price Index (HPI) fell 0.9% year-on-year to 3,598, sitting 15.9% below its peak, while the national median price eased 0.6% year-on-year to NZ$775,000, with eight of 16 regions recording year-on-year increases in median prices, the data showed.Southland reached a new all-time HPI high, up 8% annually and the strongest growth of any region nationally, while Canterbury ran at 3% annually, the second highest nationally, REINZ added.National inventory rose 3.9% year-on-year to 37,334 properties, while new listings increased 7.4% year-on-year to 9,139, though excluding Auckland, new listings saw a slight decline of 0.4% to 5,717, the data added.REINZ said the shift from an environment of rate cuts to an imminent-hike environment removes the tailwind of falling rate expectations that underpinned 2025's recovery and introduces the prospect of new serviceability pressure, which it said is a meaningful change from April's starting position.

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Asia

New Zealand Shares Flat; NZX Appoints Acting CFO

New Zealand shares ended flat with a negative bias on Wednesday after a lower Wall Street close impacted by a hotter-than-expected US inflation report.The S&P/NZX 50 Index was little changed to close at 13,063.06.On Tuesday, the Nasdaq Composite fell 0.7%, the S&P 500 dropped 0.2%, while the Dow Jones managed to add 0.11%.The US Consumer Price Index gained 3.8% year on year in April, data from the Bureau of Labor Statistics showed.New Zealand will maintain tight control over day-to-day spending in this year's budget while boosting capital investment to improve infrastructure, defense, and energy security, according to a Wednesday Reuters report, citing Prime Minister Christopher Luxon's speech on Wednesday.In domestic news, Expectations for New Zealand's one-year-ahead annual consumer price index (CPI) inflation increased by 82 basis points to 3.41% from 2.59% in the June quarter, according to the Reserve Bank of New Zealand's (RBNZ) survey.Also, high-frequency data pointed to slowing momentum across services industries and households in New Zealand as the conflict in the Middle East leaves global oil markets tight, and shipping costs and refining margins elevated, ANZ said in its Quarterly Economic Outlook report.Further, the outlook for New Zealand's economy has shifted now to another year of "positive but still sub-par growth" at 1.5% in the wake of the conflict in the Middle East, due to which oil and refined fuel prices have risen, with real petrol and diesel prices now at a 50-year high, Westpac said.Meanwhile, a total of 3,019 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,700 MT to 3,050 MT, according to data from the trading platform.In corporate news, NZX (NZE:NZX) appointed Deputy Chief Financial Officer Amy Trotman as acting CFO, effective immediately.Pacific Edge (ASX:PEB, NZE:PEB) secured NZ$25.4 million through an oversubscribed share placement priced at NZ$0.17 apiece, representing a 2.3% discount to the closing price on May 8.

^NZ50ASX:PEBNZE:NZXNZE:PEB
International

New Zealand CPI Expectations Rise in June Quarter, RBNZ Survey Says

Expectations for New Zealand's one-year-ahead annual consumer price index (CPI) inflation increased by 82 basis points to 3.41% from 2.59% in June quarter, according to the Reserve Bank of New Zealand's (RBNZ) survey published on Wednesday.Two-year-ahead inflation expectations increased to 2.53% from 2.37%, while five-year-ahead inflation expectations decreased to 2.22% from 2.31%, and 10-year-ahead inflation expectations decreased to 2.19% from 2.30%.On average, survey respondents expect the official cash rate to remain at 2.34% by the end of the June quarter.One-year-ahead unemployment rate expectations increased to 5.37% from 4.95%, and two-year-ahead unemployment rate expectations increased to 4.97% from 4.58%.Expectations for annual wage inflation over the next one and two years have increased to 2.63% and 2.84%, respectively, compared to the previous quarter.Expectations for annual real gross domestic product growth were 1.58% and 2.16% for the one and two-year-ahead time horizons, respectively.Annual house price inflation expectations tightened across all horizons, with one-year-ahead expectations falling to 0.33% from 2.37% and two-year-ahead expectations declining to 2.80% from 3.44%.

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International

Data Points to Slowing Momentum Across New Zealand Services Industries, Households, ANZ Says

High-frequency data pointed to slowing momentum across services industries and households in New Zealand as the conflict in the Middle East leaves global oil markets tight, and shipping costs and refining margins elevated, ANZ said in its Quarterly Economic Outlook report on Wednesday.New Zealand's first quarter gross domestic product (GDP), largely pre-dating the shock, is expected to print strongly at 0.9% quarter-over-quarter. Growth over 2026 is anticipated to come in at 1.5% year-over-year, before advancing to 2.6% and 2.8% in 2027 and 2028, respectively. Annual inflation is forecast to accelerate to 4.4% year-over-year in the second quarter before slowing to 4.3% in the third quarter and reaching 4.1% by the end of the year.ANZ's Business Outlook suggests firms are absorbing some of the cost surge. Recent resilience in the Purchasing Managers' Index and ANZ's Heavy Traffic Index suggests some firms may be building up inventories to mitigate the risk of potential transport disruptions. The Reserve Bank of New Zealand is anticipated to begin normalizing the official cash rate in July, with three consecutive hikes. Higher fuel costs have driven a reduction in spending on more discretionary goods and services.While the broad direction of travel for inflation and activity in the near term is known, the magnitude of the fallout for New Zealand businesses and households, and the persistence of this shock, remain unknown. The longer the shock continues, the greater the pressure on firms to pass higher costs on to consumers, and the more "demand destruction" may occur.Consumer inflation expectations have jumped higher than during COVID-19, and firms' employment intentions are "clearly deteriorating." For low-income households, the cost-of-living squeeze is most acute, while upward pressure on mortgage rates may hit middle-income households the hardest.Brent crude oil is assumed to fall to just under $90 per barrel by the end of the year, before falling to $80 per barrel by the end of 2027.

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International

New Zealand's Economy Now Expected to Experience Year of 'Positive But Still Sub-Par Growth,' Westpac Says

The outlook for New Zealand's economy has shifted now to another year of "positive but still sub-par growth" at 1.5% in the wake of the conflict in the Middle East, due to which oil and refined fuel prices have have rising, with real petrol and diesel prices now at 50-year high, Westpac said in a Wednesday report.The extent of the disruption to New Zealand's growth will depend on the duration of the conflict. Annual headline consumer price index inflation will move into the 4% to 5% range for some time and lift inflation expectations to some extent.Core inflation looks set to rise above the top of the Reserve Bank of New Zealand's target range and require the official cash rate to rise toward 3% this year, and higher through 2027, Westpac said. The resulting pressure on households' finances will be a significant drag on spending. High uncertainty will weigh on businesses' plans for hiring and investment.Unemployment is expected to rise to 5.6% from 5.3% currently.The expected economic hiatus will impact the services sector, retail spending, and hospitality the hardest, reflecting the implied hit to household incomes. Tourism will also be interrupted.The report assumed that transit through the Strait of Hormuz remains limited for a couple of months but gradually improves toward pre-conflict levels in late 2026 to mid-2027, with Brent crude declining to $83 per barrel by the end of 2026 and $64 per barrel by the end of 2027.

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Asia

NZX Midday Sector Update: Non-Energy Minerals Soar, Technology Services Decline

Non-energy minerals stocks gained the most on New Zealand's Exchange, rising past 1% in midday Wednesday.Santana Minerals (NZE:SMI, ASX:SMI) saw the sharpest increase in the sector, gaining more than 3% in recent trade.Meanwhile, the technology services sector fell almost 3%.Shares of Vista Group International (NZE:VGL, ASX:VGL) were down past 4% in recent trade.

^NZ50ASX:SMIASX:VGLNZE:SMINZE:VGL
International

Quantity Sold at GDT Pulse Auction Exceeds 3,000 Metric Tonnes

A total of 3,019 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) pulse auction held Tuesday, with supply ranging from 2,700 MT to 3,050 MT, according to data from the trading platform.The average selling price for anhydrous milk fat was $6,243 per MT, butter averaged $5,595 per MT, and skim milk powder and whole milk powder averaged $3,549 per MT and $3,768 per MT, respectively.

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Asia

New Zealand Shares Fall; Property for Industry Raises Fiscal Year 2026 Outlook

New Zealand shares ended lower on Tuesday as investors saw fading hopes of a US-Iran peace agreement.The S&P/NZX 50 Index fell 0.99% or 130.15 points to close at 13,080.33.US President Donald Trump said that the US ceasefire with Iran was "on life support" after Iran rejected a peace proposal by the US and insisted on its own list of demands, according to a Tuesday Reuters report.In domestic news, home property values in New Zealand held steady in April, showing no sense of urgency in the market, albeit with buyers having become increasingly cautious amid rising economic and political uncertainty, QV said.Also, light traffic in New Zealand fell about 1.7% in April, signaling softer demand as higher fuel prices made people more wary of driving, ANZ Research said.Meanwhile, New Zealand's seasonally adjusted volume of ready-mixed concrete rose 1.1% in the March quarter, following a 2.7% rise in the preceding three-month period, Stats NZ data showed.In corporate news, Property For Industry (NZE:PFI) has updated its fiscal year 2026 guidance and now expects to pay cash dividends of around NZ$0.095 per share, up from its previous guidance of at least NZ$0.0905.Comvita (NZE:CVT) successfully completed a NZ$40.5 million capital raise, including NZ$30 million from a pro-rata renounceable rights offer and a further NZ$10.5 million through a strategic placement.

^NZ50NZE:CVTNZE:PFI
International

ANZ Sees Possible Spending Restraint in New Zealand's 2026 Budget

Tax increases appear unlikely, but some spending restraint is possible in the upcoming New Zealand budget, as a restraint could reduce inflation pressure, limit debt growth, and lower downgrade risk, ANZ Research said in a Tuesday report.ANZ noted that previous estimates suggested oil-shock impacts could add NZ$10 billion in debt issuance by 2030, while weaker growth forecasts now lift that estimate to NZ$15 billion, but cutting budget allowances by NZ$1 billion per year could reduce the increase to about NZ$5 billion.The bank believes that budget 2026 will be challenging as the government balances economic support, inflation risks, and debt sustainability.

^NZ50
Asia

NZX Midday Sector Update: Industrial Services Stocks Rise, Health Technology Declines

Industrial services gained the most among New Zealand sectors on Tuesday, advancing nearly 1%.Ventia Services Group's (NZE:VNT, ASX:VNT) shares gained more than 1% in recent trade.Meanwhile, the health technology sector fell by almost 4%.Shares of Fisher & Paykel Healthcare (NZE:FPH, ASX:FPH) were down 4% in recent trade.

^NZ50ASX:FPHASX:VNTNZE:FPHNZE:VNT
International

Volume of Ready-Mixed Concrete in New Zealand Rises in the March Quarter

New Zealand's seasonally adjusted volume of ready-mixed concrete rose 1.1% in the March quarter, following a 2.7% rise in the preceding three-month period, Stats NZ data showed Tuesday.In actual terms, volume rose 1.8% year on year to 869,652 cubic meters.In the year ended March, 3.7 million cubic meters of ready-mixed concrete were produced, down 3.8% from the prior corresponding period, per the report.

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International

New Zealand Light, Heavy Traffic Decline in April, Says ANZ Research

Light traffic in New Zealand fell about 1.7% in April, signaling softer demand as higher fuel prices made people more wary of driving, ANZ Research said Tuesday.The light traffic index, which tracks the movement of motorbikes, cars, and vans and is an indicator of consumer demand in the country, was still up 2.4% year on year despite declines in recent months.The Heavy Traffic Index, which mainly tracks trucks and buses and is a marker of production activity, also fell by 1.2% during the month.

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International

Property Values in New Zealand Hold Steady in April, Says QV

Home property values in New Zealand held steady in April, showing no sense of urgency in the market, albeit with buyers having become increasingly cautious amid rising economic and political uncertainty, QV said Tuesday.According to the latest QV House Price Index, the average national property value grew by 0.2% to NZ$912,406 over the quarter, up 0.3% since the beginning of the year but down about 0.2% year-on-year.Regionally, average home values slipped 0.3% in Auckland and 0.1% in Wellington, in contrast to a 0.9% uptick in Christchurch.QV spokesperson Simon Petersen said it is highly likely that most buyers will take their "sweet time" to shop and wait for the right opportunity given continued paucity of listings available."We're heading into late autumn now, when activity does typically start to slow down a bit, and that's likely to keep levels of home value growth relatively subdued at best," Petersen added.The firm expects the stable and balanced market conditions seen so far in the year to continue in the short term.

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Asia Markets

New Zealand Shares Rise; Pacific Edge Launches NZ$24 Million Capital Raise

New Zealand shares ended marginally higher on Monday amid investors' worries of a prolonged US-Iran conflict.The S&P/NZX 50 Index rose 0.27% or 35.35 points to close at 13,210.48.US President Donald Trump rejected Iran's response to a US peace proposal, sending oil prices sharply higher on Monday, as fears grew that the conflict would continue and keep shipping through the Strait of Hormuz at a standstill, according to a Monday Reuters report.Brent oil price rose to about $105 per barrel in recent Monday trade.In domestic news, supplier costs for food supermarkets in New Zealand rose 2% on average in April from a year earlier, marking a continued slowdown in the pace of increases from recent months, Infometrics said in a report.In corporate news, Pacific Edge (ASX:PEB, NZE:PEB) launched a capital raising of up to NZ$24 million comprising an NZ$18 million institutional placement and a NZ$6 million retail offer at NZ$0.17 per share.Chorus' (NZE:CNU, ASX:CNU) website showed internet outages impacting parts of New Zealand early on Monday, concentrated in and around the Auckland area.

^NZ50ASX:CNUASX:PEBNZE:CNUNZE:PEB
International

New Zealand Food Supermarkets' Supplier Costs Rise in April With Further Increase Expected, Infometrics Says

Supplier costs for food supermarkets in New Zealand rose 2% on average in April from a year earlier, marking a continued slowdown in the pace of increases from recent months, Infometrics said in a Monday report.However, Infometrics Chief Executive and Principal Economist Brad Olsen cautioned that the slower readings "still largely pre-date rising costs stemming from conflict in the Middle East, with only some limited increases for produce showing through so far."The economic consultancy firm expects additional impact from the conflict to become evident in the Infometrics-Foodstuffs New Zealand Grocery Supplier Cost Index over the next few months."Fuel costs are set to influence costs first, followed by wider pressures from plastics and packaging costs, with further operating cost rises, like for fertilizer, showing through over time," Olsen said.Supplier costs ticked higher across all departments in April compared with the previous year, including a continued rise in protein costs and a nearly 5% increase in average seafood supplier costs, alongside notable increases for broccoli, kumara, and capsicums, according to the report.

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Japan

NZX Most Active Stocks

Here are the most actively traded stocks on New Zealand's Exchange on Monday.Vital Healthcare (NZE:VHP): 2.1 million sharesPrecinct Properties NZ & Precinct Properties Investments (NZE:PCT): 2 million sharesSpark New Zealand (NZE:SPK): 1.2 million sharesInfratil (NZE:IFT): 587,218 sharesAir New Zealand (NZE:AIR): 463,071 shares

^NZ50ASX:IFTNZE:AIRNZE:PCTNZE:SPKNZE:VHP
International

Westpac Expects Slower Normalization to Strait of Hormuz Shipping Flows

Shipping flows through the Strait of Hormuz are now expected to reach around 10% to 15% of pre-conflict levels through June, with a return to normal flows unlikely to materialize until mid-2027, Westpac said in a market outlook report published May 8.That compares with a previous forecast published in March for flows to hit around 20% of pre-conflict levels in May and June before recovering to normal by the close of this year."Our assumption of a more sustained period of disruption to shipping through the Strait means it will take longer for smaller Gulf producers, including Kuwait, that have faced some production 'shut ins' due to storage capacity constraints, to return to normal," the bank said.Due to continued uncertainty over a resolution to the conflict, global monetary and fiscal arms are incorporating higher inflation, lower growth, and weaker labor markets into baseline forecasts. Central banks are navigating the crisis with extreme caution and finding it increasingly difficult to balance inflation and growth risks, according to the report.Westpac said it continues to expect two additional rate hikes from the Australian central bank this year, but with a slightly later timing in August and September.The bank also expects a rate hike in New Zealand in September as higher fuel prices will result in a sharp lift to consumer price index inflation over the coming months.

ASX 200^NZ50

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