新西兰基准标准普尔/NZX 50指数周五收于13467点，下跌0.8%，主要受健康科技股下跌拖累。医疗设备制造商费雪派克医疗保健公司（Fisher&Paykel Healthcare）领跌3.5%，制药供应商埃博集团（Ebos Group）和癌症诊断公司Pacific Edge分别下跌0.4%和2.0%。老年护理运营商也面临压力，Ryman下跌0.7%，大洋洲下跌2.0%。在其他股票中，跌幅显著的包括Infratil（-1.0%）、Fletcher Building（-1.8%）和新西兰航空（-1.65%）。周四，旨在结束美国政府停摆的融资法案第七次未能通过参议院，华尔街的疲软进一步影响了市场情绪。本周，新西兰元50下跌0.35%。

New Zealand's benchmark S&P/NZX 50 index closed 0.8% lower at 13,467 on Friday, dragged mainly by losses in health tech stocks. Leading the decline, medical device maker Fisher & Paykel Healthcare slumped 3.5%, while pharmaceutical supplier Ebos Group and cancer diagnostics company Pacific Edge slipped 0.4% and 2.0%, respectively. Aged care operators came also under pressure, with Ryman down 0.7% and Oceania losing 2.0%. Among other stocks, notable decliners included Infratil (-1.0%), Fletcher Building (-1.8%), and Air New Zealand (-1.65%). Market sentiment was further weighed by weakness on Wall Street after funding bills aimed at ending the US government shutdown failed to pass the Senate for the seventh time on Thursday. For the week, the NZX 50 fell 0.35%.

周五，新西兰元微涨至0.575美元，但仍接近六个月低点，因为市场情绪继续受到储备银行鸽派立场的拖累。本周早些时候，新西兰储备银行将其官方现金利率大幅下调50个基点至2.50%，为2022年7月以来的最低水平，并在对经济疲软状况的担忧下，为进一步宽松敞开了大门。市场目前预计，新西兰储备银行11月下次会议降息25个基点的可能性为80%，最终降息2.0%的可能性为36%。美元走强加剧了新西兰元的下行压力，这得益于一些美联储官员在9月会议纪要和持续评论中的鹰派语气。在经济新闻方面，新西兰9月份的制造业采购经理人指数（PMI）保持在49.9不变，这表明该行业持续收缩，缺乏动力。新西兰元本周迄今已下跌超过1%。

The New Zealand dollar edged up to $0.575 on Friday but remained close to a six-month low, as sentiment continued to be weighed down by the dovish stance of the Reserve Bank. Earlier in the week, the RBNZ cut its official cash rate by an outsized 50bps to 2.50%, the lowest level since July 2022, and left the door open to yet further easing amid concerns about the frail state of the economy. Markets are now pricing in an 80% probability of a 25bps rate cut at the RBNZ’s next meeting in November, and a 36% chance of ending at 2.0%. Downward pressure on the kiwi was compounded by a stronger US dollar, which is aided by hawkish tone from some Federal Reserve officials, both in the minutes from September’s meeting as well as ongoing commentary. In economic news, New Zealand’s Manufacturing PMI was unchanged at 49.9 in September, signaling continued contraction and a lack of momentum in the sector. The New Zealand dollar has declined more than 1% so far this week.

新西兰BNZ制造业持平于49.9，企业称需求疲软和成本上升。9月，新西兰BNZ制造业表现指数稳定在49.9，标志着又一个月的收缩，仍低于其长期平均水平52.4。

NZ BNZ manufacturing flat at 49.9, firms cite soft demand and rising costs.New Zealand's BNZ Performance of Manufacturing Index held steady at 49.9 in September, marking another month of contraction and remaining below its long-term average of 52.4.

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.