标准普尔/NZX 50指数周五收盘下跌0.1%，收于12563点左右，结束了连续两天的上涨，投资者继续评估全球贸易发展。在美国总统唐纳德·特朗普和中国国家主席习近平通电话后，交易员在美国关税的不确定性挥之不去的情况下保持谨慎，双方领导人同意恢复贸易谈判。尽管周五有所下跌，但该基准指数在金融股走强的支撑下，三周来首次出现周涨幅。Meridian Energy上涨超过2%，而Mercury NZ上涨0.8%。不利的一面是，杂项和医疗保健行业的股价出现下跌，F&C Investment（-1.2%）、Infratil（-1.8%）、Fisher&Paykel（-1.5%）和Ebos Group（-0.8%）的跌幅显著。

The S&P/NZX 50 index closed 0.1% lower at around 12,563 on Friday, snapping a two-day winning streak, as investors continued to assess global trade developments. Traders remained cautious amid lingering uncertainty over US tariffs, following a phone call between US President Donald Trump and Chinese President Xi Jinping, during which both leaders agreed to resume trade talks. Despite Friday’s dip, the benchmark index posted its first weekly gain in three, supported by strength in financial stocks. Meridian Energy jumped over 2%, while Mercury NZ gained 0.8%. On the downside, shares in the miscellaneous and healthcare sectors were in the red, with notable losses from F&C Investment (-1.2%), Infratil (-1.8%), Fisher & Paykel (-1.5%), and Ebos Group (-0.8%).

周五，新西兰元将最近的涨幅保持在0.604美元左右，接近八个月高点，这得益于对贸易紧张局势缓解的重新乐观情绪，这降低了依赖出口的货币的风险。美国总统唐纳德·特朗普（Donald Trump）与中国习近平主席主席通了电话，双方同意恢复贸易谈判，这也助长了积极情绪。然而，由于没有分享具体细节，不确定性仍然存在。在国内方面，储备银行上周将利率下调25个基点至3.25%，但5月份的决定表明，宽松周期可能即将结束。市场现在预计新西兰储备银行将在7月份保持利率稳定，同时预计8月份降息的可能性约为70%，这可能是本次宽松周期的最后一次降息。本周，澳大利亚货币有望上涨1%以上。

The New Zealand dollar held its recent gains to around $0.604 on Friday, staying close to an eight-month high, supported by renewed optimism over easing trade tensions that reduced risks for the export-reliant currency. A phone call between US President Donald Trump and Chinese President Xi Jinping, during which both leaders agreed to resume trade talks, contributed to the positive sentiment. However, uncertainty remains as no concrete details were shared. On the domestic front, the Reserve Bank cut rates by 25bps to 3.25% last week, but the May decision suggests the easing cycle may be nearing its end. Markets now expect the RBNZ to hold rates steady in July, while pricing in about a 70% chance of a rate cut in August—potentially the final one in this loosening cycle. For the week, the antipodean currency is on track for a gain of over 1%.

新西兰股市几乎持平，在前两个交易日上涨后，周五早盘交易约为12574点，因为非必需消费品和能源的强劲抵消了工业和科技板块的下跌。在美国总统唐纳德·特朗普与中国习近平主席通话后，交易员对美国关税的不确定性持谨慎态度，并继续关注美中贸易谈判的发展。投资者预计，由于国内需求持续疲软和美国关税的不确定性，新西兰最大贸易伙伴中国将于下周一公布一系列数据，包括消费者、生产者价格和贸易数据。F&C Investment上涨1.2%，Delegat Group上涨1.1%，Fisher&Paykel上涨0.6%，而Contact Energy、Hallenstein Glasson和Ryman Healthcare均下跌0.9%。本周，新西兰元50指数将上涨1.2%，这将是连续第三周上涨。

Stocks in New Zealand were almost flat, trading around 12,574 in morning trade on Friday after gains in the previous two sessions, as strength in consumer discretionary and energy offset declines in the industrial and tech sectors. Traders were cautious amid uncertainty over US tariffs and continued to monitor developments in US-China trade negotiations, following a call between US President Donald Trump and Chinese President Xi Jinping. Investors are anticipating a slew of data from New Zealand's top trading partner, China, due next Monday—including consumer, producer prices, and trade data—amid continued weak domestic demand and ongoing uncertainty around US tariffs. F&C Investment gained 1.2%, Delegat Group rose 1.1%, and Fisher & Paykel gained 0.6%, while Contact Energy, Hallenstein Glasson, and Ryman Healthcare each dropped 0.9%. For the week, the NZX 50 is heading for a 1.2% rise, which would mark the third straight weekly gain.

周四，标准普尔/NZX 50指数上涨0.7%，收于12577点，连续第二个交易日上涨，达到一周多来的最高水平。医疗保健类股领涨，Ebos Group上涨3.2%，Ryman Healthcare飙升6.3%，Summerset上涨1.4%。房地产股也做出了强劲贡献，包括Investore Property（3.6%）、Argosy Property（2.9%）、工业地产（1.65%）、Kiwi Property（1.1%）和Precinct Properties（0.85%）。尽管经合组织最近的一份报告预测全球经济增长将从2024年的3.3%放缓至2025年和2026年的2.9%，但市场仍出现反弹。经合组织在对新西兰的评估中指出，尽管该国仍容易受到全球贸易逆风的影响，但经济正在复苏。与此同时，投资者密切关注国际事态发展，特别是美国总统唐纳德·特朗普的关税计划，以及特朗普与中国国家主席习近平之间潜在谈判的进展迹象。

The S&P/NZX 50 index rose 0.7% to close at 12,577 on Thursday, marking its second straight session of gains and reaching its highest level in over a week. Healthcare stocks led the advance, with Ebos Group climbing 3.2%, Ryman Healthcare surging 6.3%, and Summerset up 1.4%. Property stocks also made strong contributions, including Investore Property (3.6%), Argosy Property (2.9%), Property for Industry (1.65%), Kiwi Property (1.1%), and Precinct Properties (0.85%). The market’s rally came despite a recent report from the OECD projecting global economic growth to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026. In its assessment of New Zealand, the OECD noted that an economic recovery is underway, though the country remains vulnerable to global trade headwinds. Meanwhile, investors kept an eye on international developments, particularly US President Donald Trump’s tariff plans, and signs of movement on potential talks between Trump and Chinese President Xi Jinping.