新西兰基准标准普尔/NZX 50指数周五上涨0.5%，收于13514点，连续第五个交易日上涨，医疗保健、消费服务、能源矿产和耐用消费品领涨。投资者的注意力现在转向新西兰储备银行下周的政策决定，市场普遍预计将降息25个基点至2.75%。在海外，交易员们正在权衡美国政府停摆可能持续多久，对经济数据发布的影响，以及这将如何影响美联储的决策过程。在企业方面，权重股斐雪派克（+1.3%）、Infratil（+2.4%）和Spark NZ（+1.3%.）均实现稳健增长。其他表现突出的公司包括SkyCity Entertainment（+6.7%）、Kiwi Property（+1.9%）和Channel Infrastructure（+1.5%）。本周，新西兰元50指数飙升3.1%，为2024年8月以来的最大单周涨幅。

New Zealand's benchmark S&P/NZX 50 index rose 0.5% to close at 13,514 on Friday, extending its winning streak to a fifth straight session, led by strength in healthcare, consumer services, energy minerals, and consumer durables. Investor attention is now turning to the Reserve Bank of New Zealand’s policy decision next week, with markets largely expecting a quarter-point rate cut to 2.75%. Overseas, traders are weighing how long the US government shutdown might last, its impact on economic data releases, and how that will influence the Federal Reserve’s decision-making process. On the corporate front, heavyweights Fisher & Paykel (+1.3%), Infratil (+2.4%), and Spark NZ (+1.3%) posted solid gains. Other standout performers included SkyCity Entertainment (+6.7%), Kiwi Property (+1.9%), and Channel Infrastructure (+1.5%). For the week, the NZX 50 surged 3.1%, its biggest weekly gain since August 2024.

周五，由于经济不确定性和对美国降息的押注不断增加，新西兰元保持近期上涨至0.582美元左右，继续对美元构成压力。财政部长斯科特·贝森特周四表示，政府停摆可能会损害美国经济增长，并影响美国工人。此外，美国劳动力市场疲软的迹象增强了人们对美联储将在今年剩下的两次会议上降息的预期。新西兰元也受益于对澳元空头头寸的获利回吐，澳元已连续八周攀升至三年高点。然而，在国内，由于一系列疲软的经济数据导致交易员对新西兰储备银行的进一步宽松政策进行定价，该货币仍面临压力。市场完全消化了下周降息25个基点至2.75%的预期，有44%的可能性出现更大的0.5个基点的跌幅。本周，新西兰元迄今已上涨约0.8%，有望打破两周的连跌。

The New Zealand dollar held its recent advance to around $0.582 on Friday, as economic uncertainty and growing bets on US rate cuts continued to weigh on the greenback. Treasury Secretary Scott Bessent said Thursday the government shutdown could hurt US economic growth and impact American workers. Also, signs of weakness in the US labor market have reinforced expectations the Federal Reserve will cut rates at its two remaining meetings this year. The kiwi also benefited from profit-taking on short positions against the Australian dollar, which had climbed for eight consecutive weeks to reach a three-year high. Domestically, however, the currency remains under pressure after a run of weak economic data has led traders to price in deeper easing by the Reserve Bank of New Zealand. Markets are fully priced for a quarter-point cut to 2.75% next week, with a 44% chance of a larger half-point move. For the week, the kiwi is up about 0.8% so far, on track to snap a two-week losing streak.

新西兰将大幅增加国防开支，国防部长朱迪思·柯林斯公布了在四年内将国防开支增加90亿新西兰元的计划，并在八年内将其增加近一倍，达到国内生产总值的2%。与此同时，政府宣布了一项新的国防工业战略，修订了采购规则，要求跨国供应商与当地公司合作提供和维护国防能力。为了进一步支持创新，惠灵顿将启动一项价值1亿至3亿新西兰元的军事技术基金，以促进先进的国防技术。柯林斯表示，这些措施旨在“重新定义当地产业伙伴关系”，确保新西兰能够有效应对未来的战略挑战，同时通过更多地参与国防项目来振兴国内产业。

New Zealand is set to significantly increase its defence spending, with Defence Minister Judith Collins unveiling plans to ramp up expenditure by NZD 9 billion over four years and nearly double it to 2% of GDP within eight years. Alongside this, the government announced a new Defence Industry Strategy with revised procurement rules requiring multinational suppliers to partner with local firms in providing and maintaining defence capabilities. To further support innovation, Wellington will launch a military technology fund worth NZD 100–300 million to foster advanced defence technologies. Collins said the measures are designed to “redefine local industry partnerships” and ensure New Zealand can effectively meet future strategic challenges, while invigorating domestic industry through greater participation in defence projects.

周五早盘，新西兰元50指数下跌39点，跌幅0.3%，至13413点，停止了前四个交易日的涨幅。工业、消费品、科技和公用事业板块的下跌主要推动了下跌。交易员继续关注美国政府关门的事态发展，同时也在等待今天晚些时候美国就业报告的发布。继8月份下降后，新西兰9月份商业PMI数据将于下周公布，在此之前，人们也持谨慎态度。然而，对新西兰储备银行下周将降息25个基点的预期帮助遏制了下跌。周四，在科技股上涨的支撑下，华尔街一个乐观的交易日也阻止了更广泛的指数进一步下跌。早期下跌的包括Colonial Motor（-1.9%）、Meridian Energy（-1.4%）、奥克兰国际机场（-1.3%）和A2 Milk（-1.0%）。然而，本周该指数仍将上涨2.1%，在上周下跌后反弹。

The NZX 50 fell 39 points, or 0.3%, to 13,413 in morning trade on Friday, halting gains from the previous four sessions. Losses in the industrials, consumer staples, tech, and utilities sectors mainly drove the decline. Traders continued to monitor developments surrounding a US government shutdown, while also awaiting the release of the US jobs report later today. Caution was also built ahead of the release of New Zealand’s Business PMI data for September, due next week, following a decline in August. However, expectations that the RBNZ will cut rates by 25 basis points next week helped cap the fall. An upbeat session on Wall Street on Thursday, supported by gains in tech stocks, also prevented the broader index from falling further. Among early decliners were Colonial Motor (-1.9%), Meridian Energy (-1.4%), Auckland International Airport (-1.3%), and A2 Milk (-1.0%). For the week, however, the index is still heading for a 2.1% gain, rebounding after posting losses the previous week.