周五早盘，新西兰元50指数下跌47点，跌幅0.3%，至13524点，前一天收盘温和，非能源矿产、零售贸易和金融股领跌。周四华尔街收盘大多下跌后，市场情绪减弱，交易员权衡了美联储官员对利率前景和美国财报季开始的评论。在当地，新西兰9月份的商业活动仍然疲软，连续第二个月略低于50大关。在8月份的数字保持在2025年11月以来的最高水平之后，投资者在下周9月份的食品通胀数据公布之前也变得谨慎。尽管如此，由于新西兰联储支持经济增长的温和政策立场，以及在劳动力市场降温和通胀风险缓解的情况下押注美国进一步降息，损失受到限制。主要落后者包括Winton Land（-3.8%）、Briscoe Group（-3.2%）、旅游Hlds。（-3.0%）和弗莱彻大厦（-2.4%）。在上周的强劲反弹之后，本周市场将以低迷的基调结束。

The NZX 50 fell 47 points or 0.3% to 13,524 in early trade on Friday, following a muted close the day before, led by non-energy minerals, retail trade, and financials. Sentiment weakened after Wall Street ended mostly lower Thursday, as traders weighed comments from Fed officials on the rate outlook and the start of the U.S. earnings season. Locally, business activity in New Zealand remained sluggish in September, staying slightly below the 50 mark for the second month. Investors also turned cautious ahead of next week’s September food inflation data, after August’s figure held at its highest since November 2025. Still, losses were capped by the RBNZ’s dovish policy stance to support growth and bets of further U.S. rate cuts amid a cooling labor market and easing inflation risks. Major laggards included Winton Land (-3.8%), Briscoe Group (-3.2%), Tourism Hlds. (-3.0%), and Fletcher Building (-2.4%). For the week, markets are set to end on a subdued note after last week’s strong rally.

由于企业继续面临国内和出口市场的需求疲软和不确定性，新西兰9月份的BusinessNZ制造业表现指数（PMI）稳定在49.9，仍处于收缩状态。与此同时，新订单指数降至50.3，反映出与上月相比需求疲软。成本上升、信心疲软和竞争压力使制造商保持谨慎，并限制了复苏的迹象。

The BusinessNZ Performance of Manufacturing Index (PMI) in New Zealand held steady at 49.9 in September, remaining in contraction, as businesses continued to face weak demand and uncertainty across both domestic and export markets. Meanwhile, the new orders index slipped to 50.3, reflecting softer demand compared to the previous month. Rising costs, weak confidence, and competitive pressures are keeping manufacturers cautious and limiting signs of recovery.

9月份新西兰商业PMI保持不变，为49.9。9月份新西兰商业PMI保持不变，为49.9

New Zealand Business NZ PMI remains unchanged at 49.9 in September.New Zealand Business NZ PMI remains unchanged at 49.9 in September

周四，新西兰基准标准普尔/新西兰元50指数在13571点结束了一个波动的交易日，在储备银行宣布大幅降息的第二天，该指数几乎没有变化。新西兰储备银行将现金利率大幅下调50个基点至2.5%，并为进一步放松政策敞开大门，以重振陷入困境的经济。在个股中，涨幅显著的包括Meridian Energy（+1%）、Spark NZ（+0.8%）、Ryman Healthcare（+3.6%）和新西兰航空（+0.8%。另一方面，跌幅最大的是Mercury NZ（-2.65%）、Contact Energy（-0.7%）、Fletcher Building（-1.8%）、Summerset（-2.1%）和Property for Industry（-2.7%）。在海外，美国股市周三创下历史新高，此前联邦公开市场委员会（FOMC）最新会议纪要显示，大多数成员支持今年进一步降息，尽管许多成员在持续通胀的情况下也表示谨慎。

New Zealand's benchmark S&P/NZX 50 ended a volatile session little changed at 13,571 on Thursday, a day after the Reserve Bank announced a bumper rate cut. The RBNZ cut cash rates by an outsized 50bps to 2.5% and left the door open to yet further easing as it tries to revive a struggling economy. Among individual stocks, notable gainers included Meridian Energy (+1%), Spark NZ (+0.8%), Ryman Healthcare (+3.6%), and Air New Zealand (+0.8%). On the other hand, the biggest decliners were Mercury NZ (-2.65%), Contact Energy (-0.7%), Fletcher Building (-1.8%), Summerset (-2.1%), and Property for Industry (-2.7%). Overseas, US stocks hit records on Wednesday after minutes from the latest FOMC meeting showed most members supported further rate cuts this year, though many also expressed caution amid persistent inflation.