周五，标准普尔/NZX 50指数下跌0.3%，收于12845点，投资者对新征收的关税对国内经济的影响表示担忧。周四，新西兰对美国出口商品征收15%的关税，这给该国出口导向型经济带来了风险。在周六公布的中国消费者和生产者价格数据公布之前，交易员们也感到紧张，预测显示CPI将再次下降，突显出新西兰最大贸易伙伴的国内需求持续疲软。尽管周五有所下跌，但新西兰元50指数本周上涨0.9%，结束了连续两周的下跌，这得益于人们对新西兰储备银行可能在本月晚些时候降息的预期上升，此前就业报告疲软。在企业方面，权重股Meridian Energy（-1.2%）、Infratil（-1.5%）和a2 Milk（-0.8%）领跌。其他值得注意的下跌股包括萨默塞特集团（-2.2%）、大洋洲（-2.9%）、根特拉克集团（-1.8%）和弗莱彻大厦（-1%）。

The S&P/NZX 50 index slipped 0.3% to close at 12,845 on Friday, as investors expressed concern over the impact of newly imposed tariffs on the domestic economy. A 15% tariff on New Zealand exports to the US took effect on Thursday, raising risks for the country’s export-driven economy. Traders were also on edge ahead of China’s consumer and producer price data due Saturday, with forecasts pointing to a renewed drop in the CPI, underscoring persistently weak domestic demand in New Zealand’s largest trading partner. Despite Friday’s decline, the NZX 50 rose 0.9% for the week, ending a two-week losing streak, underpinned by rising expectations that the Reserve Bank of New Zealand may cut rates later this month, following a weak jobs report. On the corporate front, heavyweights Meridian Energy (-1.2%), Infratil (-1.5%), and a2 Milk (-0.8%) led the downturn. Other notable decliners included Summerset Group (-2.2%), Oceania (-2.9%), Gentrack Group (-1.8%), and Fletcher Building (-1%).

周五，新西兰元在美元走软的支撑下，稳定在0.596美元，徘徊在一周高点附近。由于对美联储9月降息的押注越来越多，以及对新关税对美国经济影响的担忧，美元仍面临压力。新西兰元还得到了新西兰最大贸易伙伴中国仍然强劲的贸易数据的支持，该数据显示，7月份出口增长超过预期，在北京和华盛顿之间脆弱的关税休战中提供了一些缓解。然而，在国内，最近的劳动力市场数据表明持续疲软，这增强了人们对新西兰储备银行可能在本月晚些时候的会议上降低利率的预期，从而缓和了市场情绪。周四，美国对新西兰出口征收15%的新关税生效，给该国依赖出口的经济带来了新的风险，这加剧了不利因素。本周，新西兰元上涨0.8%。

The New Zealand dollar held steady at $0.596 on Friday, hovering around a one-week high, supported by a softer US dollar. The greenback remained under pressure amid growing bets on a Federal Reserve rate cut in September and concerns about the impact of new tariffs on the US economy. The kiwi also found support from still strong trade data from China—New Zealand’s largest trading partner—which showed export growth beat forecasts in July, offering some relief amid a fragile tariff truce between Beijing and Washington. Domestically, however, sentiment was tempered by recent labor market data pointing to continued weakness, reinforcing expectations that the Reserve Bank of New Zealand could lower interest rates at its meeting later this month. Adding to the headwinds, a new 15% US tariff on New Zealand exports took effect on Thursday, posing fresh risks to the country’s export-reliant economy. For the week, the NZD is up 0.8%.

周五早盘，新西兰元50指数下跌18点，跌幅0.1%，至12867点，此前一个月基本持平，受医疗保健、工业和通信服务拖累。在特朗普总统决定对印度进口商品征收额外25%的关税后，有迹象表明贸易紧张局势再次出现，交易员继续关注美国贸易关税政策的发展。在新西兰主要贸易伙伴中国周六公布消费者价格和生产者价格之前，人们也越来越谨慎。市场预计，在内地需求持续疲软的情况下，CPI将恢复下降。包括零售销售和工业生产在内的一系列中国数据将于下周公布。早期下跌的包括新西兰南港（-3.0%）、斐雪派克（-1.2%）和澳新银行集团（-0.8%）。然而，该指数仍有望每周上涨1.2%，这是三周来的首次上涨，因为人们希望在即将举行的新西兰联储会议上降息。

The NZX 50 dropped 18 points, or 0.1%, to 12,867 in morning trade on Friday, after remaining nearly flat over the previous month, weighed down by healthcare, industrials, and communication services. Traders continued to monitor developments in US trade tariff policy amid signs of renewed trade tensions, following President Trump’s decision to impose an additional 25% tariff on Indian imports. Caution also grew ahead of the release of consumer and producer prices in China — New Zealand’s main trading partner — due on Saturday. Markets expect the CPI to return to decline amid continued weak demand in the mainland. A slew of data from China, including retail sales and industrial production, is set to be announced next week. Among early losers were South Port NZ (-3.0%), Fisher & Paykel (-1.2%), and ANZ Group (-0.8%). However, the index remains on track for a 1.2% weekly gain — its first rise in three weeks — amid hopes of interest rate cuts at the upcoming RBNZ meeting.

新西兰基准标准普尔/NZX 50指数周四收于12887点，几乎持平，因投资者对美国新加征关税的担忧而持观望态度。全面的互惠关税现已生效，包括对新西兰出口产品征收15%的更高关税。与此同时，来自新西兰最大贸易伙伴中国的贸易数据显示，由于北京和华盛顿之间脆弱的关税休战，7月份的出口超过了预期。在国内，本周公布的劳动力市场数据表明，经济持续疲软，这增强了人们对新西兰储备银行可能在本月晚些时候即将召开的会议上降息的预期。在企业方面，显著上涨的包括Spark NZ（+1.8%）和Chorus（+1.2%），而Contact Energy（-0.8%）和Summerset（-1.3%）是主要下跌股之一。

New Zealand's benchmark S&P/NZX 50 index ended Thursday’s session nearly flat at 12,887, as investors stayed on the sidelines amid concerns over newly imposed US tariffs. The sweeping reciprocal tariffs have now taken effect, including a higher 15% duty on New Zealand exports. Meanwhile, trade data from China — New Zealand's largest trading partner — showed exports beat forecasts in July amid a fragile tariff truce between Beijing and Washington. Domestically, labor market data released this week pointed to continued softness, reinforcing expectations that the Reserve Bank of New Zealand could cut interest rates at its upcoming meeting later this month. On the corporate front, notable gainers included Spark NZ (+1.8%) and Chorus (+1.2%), while Contact Energy (-0.8%) and Summerset (-1.3%) were among the key decliners.