新西兰基准标准普尔/NZX 50指数周五收于12287点，下跌0.15%，连续第二个交易日下跌，因担心即将到来的美国互惠关税和不断升级的贸易战。国内数据显示，新西兰3月份消费者信心降至五个月低点，反映出对该国经济前景的担忧，进一步抑制了市场情绪。与此同时，交易员等待美国个人消费支出通胀数据在当天晚些时候公布，预计该数据将为美联储的利率轨迹提供关键见解。大多数大盘股收盘下跌，斐雪派克（-1.5%）、新西兰水星（-1.3%）和Mainfreight（-1.6%）跌幅显著。金融和房地产股也拖累了市场。尽管周五下跌，该指数仍创下1.4%的周涨幅，结束了连续五周的下跌。

New Zealand's benchmark S&P/NZX 50 index closed 0.15% lower at 12,287 on Friday, sliding for the second straight session amid worries about the upcoming U.S. reciprocal tariffs and an escalating trade war. Sentiment was further dampened by domestic data showing that New Zealand’s consumer confidence fell to a five-month low in March, reflecting concerns about the country's economic outlook. Meanwhile, traders awaited the release of the U.S. PCE inflation data later in the day, which is expected to offer key insights into the Federal Reserve’s interest rate trajectory. Most large-cap stocks ended in the red, with notable losses seen in Fisher & Paykel (-1.5%), Mercury NZ (-1.3%), and Mainfreight (-1.6%). Financial and property stocks also weighed on the market. Despite Friday's decline, the index posted a 1.4% weekly gain, snapping a five-week losing streak.

周五，新西兰元跌至0.571美元左右，连续第二周下跌，因为在美国总统唐纳德·特朗普于4月2日宣布对进口汽车征收最新关税后，双方普遍持谨慎态度。与此同时，交易员们正在等待今天晚些时候公布的美国个人消费支出通胀数据，这可能会为美联储的利率走势提供更多线索。在国内，由于预计新西兰储备银行将进一步降息，人民币也面临压力。经济学家认为，尽管上周的GDP数据好于预期，但新西兰储备银行仍有望在4月和5月进一步放松政策。数据显示，3月份澳新银行罗伊摩根消费者信心指数下降4点，至93.2，而当前状况指数下降5点，至81.9，反映出对国内经济前景的担忧，这加剧了负面情绪。

The New Zealand dollar fell to around $0.571 on Friday, heading for its second consecutive weekly decline, as caution prevailed ahead of U.S. President Donald Trump’s announcement of reciprocal tariffs on April 2, following latest levies on imported autos. Meanwhile, traders now await the U.S. PCE inflation data due later today, which could offer more clues on the Federal Reserve’s interest rate path. Domestically, the currency also faced pressure amid expectations of additional rate cuts by the Reserve Bank of New Zealand. Economists see the RBNZ still on track to ease policy further in April and May, despite last week’s better-than-expected GDP figures. Adding to the negative sentiment, data showed the ANZ-Roy Morgan Consumer Confidence Index fell by four points to 93.2 in March, while the current conditions index dropped five points to 81.9, reflecting concerns about the domestic economic outlook.

新西兰股市在周五上午交易时段接近持平，在前一天略有下跌后徘徊在12308左右。非能源矿产、耐用消费品和加工行业的损失抵消了医疗保健和公用事业的收益。投资者权衡了新的数据，这些数据显示，由于对经济疲软的担忧，新西兰3月份的消费者信心降至五个月低点。与此同时，焦点转移到今天晚些时候公布的美国个人消费支出通胀数据和下周公布的新西兰商业信心数据上。交易员还监测了中国的采购经理人指数数据，该数据将在未来几天从官方和私人来源发布。尽管信号喜忧参半，但新西兰元50指数有望在六周内首次周内上涨，迄今为止上涨约1.5%，这得益于对新西兰储备银行将继续放松货币政策的押注，在温和通胀的情况下，今年有可能三次降息。Gentrack Group（6.0%）和Ryman Healthcare（3.2%）上涨，AFT Pharmaceuticals和Serko有限公司分别下跌2.3%和2.1%。

Shares in New Zealand traded near flat during Friday’s morning session, hovering around 12,308 after a slight dip a day before. Losses in non-energy minerals, consumer durables, and process industries offset gains in healthcare and utilities. Investors weighed fresh data showing New Zealand’s consumer sentiment fell to a five-month low in March, on concerns over a sluggish economy. Meanwhile, focus shifted to the release of US PCE inflation data later today and New Zealand’s business confidence figures next week. Traders also monitored China’s PMI data, set for release from official and private sources in the coming days. Despite mixed signals, the NZX 50 is on track for its first weekly gain in six weeks, up about 1.5% so far, supported by bets that the RBNZ will continue its monetary easing, with the possibility of three rate cuts this year amid mild inflation. Gentrack Group (6.0%) and Ryman Healthcare (3.2%) gained while AFT Pharmaceuticals and Serko Ltd. each fell 2.3% and 2.1%.

澳新银行罗伊摩根消费者信心指数在3月份降至93.2，尽管略有上升，但仍在努力显示持续改善。关键零售指标“购买主要家居用品的好时机”指标下降1点，至-16点，表明消费者信心减弱。通胀预期小幅上升0.2个百分点，至4.2%，这是自2024年6月以来首次超过4%。未来状况指数下降了2个百分点，而当前状况指数则大幅下降了5个百分点，反映了人们对个人财务的负面看法。有趣的是，有抵押贷款的人越来越倾向于消费，偏离了通常的趋势，这可能表明对零售商的需求被压抑了。尽管这些信号喜忧参半，通胀预期上升，经济指标仍然疲软，但很明显，消费者仍然保持谨慎，等待劳动力和住房市场的更具体改善。

The ANZ-Roy Morgan Consumer Confidence index fell to 93.2 in March, continuing its struggle to show sustained improvement despite a slight upward trend. The "good time to buy a major household item" indicator, a key retail measure, eased by 1 point to -16, signaling weaker consumer sentiment. Inflation expectations edged up by 0.2 percentage points to 4.2%, marking the first time since June 2024 that they’ve surpassed the 4% mark. The future conditions index dropped 2 points, while the current conditions index saw a sharper decline of 5 points, reflecting negative perceptions about personal finances. Interestingly, individuals with mortgages have become more inclined to spend, deviating from usual trends, which could signal some pent-up demand for retailers. Despite these mixed signals, with rising inflation expectations and still-weak economic indicators, it’s clear that consumers remain cautious, waiting for more concrete improvements in the labor and housing markets.