10.09.202523:03:51UTC+00Stocks in New Zealand Down Slightly

New Zealand's stock market experienced a downturn on Thursday morning, with the index dropping by 30 points, or 0.2%, to settle at 13,247. This decline wiped out the gains from the previous day, primarily due to a dip in consumer non-durables, utilities, and transport sectors. Market sentiment was cautious following a decrease in the Dow Jones on Wall Street on Wednesday, as investors awaited the critical U.S. Consumer Price Index (CPI) report expected later today. This report is anticipated to be the final cue ahead of the Federal Reserve's policy meeting scheduled for next week. Meanwhile, in China, New Zealand’s principal trade ally, deflationary trends continued, with consumer prices in August dropping at the steepest rate observed in six months, and producer prices continuing their downturn for the 35th consecutive month, though at a more modest pace. On the domestic front, traders were looking forward to the release of the August PMI data on Friday amid ongoing concerns about weak demand and uncertainty around tariffs. Offsetting some of these declines, however, was a rise in tourist arrivals in July, buoyed by seasonal influences and school holidays. Significant losses were recorded by companies such as T&G Global, which fell by 2.0%, Fonterra Co-op by 1.5%, Spark NZ by 1.2%, and Scales Corp by 0.9%.