周二，新西兰基准标准普尔/NZX 50指数上涨0.5%，收于12185点，连续第三个交易日上涨，因为人们越来越乐观地认为，即将到来的4月2日美国互惠关税最后期限可能会带来比预期更温和的措施。唐纳德·特朗普总统表示，“许多国家”可能会获得关税豁免，但确认即将对汽车、药品和铝征收关税。在经济方面，新西兰第一季度的就业信心减弱，西太平洋银行麦克德莫特-米勒指数从2024年第四季度的91.6降至88.3，这表明劳动力条件疲软。在企业新闻方面，Spark NZ在宣布贝莱德及其附属公司将其在该公司的股份从5.9%增加到8.1%后，股价上涨了4%以上。Solution Dynamics在市场份额回购消息传出后上涨了1%以上。其他显著上涨的股票包括斐雪派克（+1.4%）、新西兰水星（+1.8%）和陶朗加港（+2.3%）。

New Zealand's benchmark S&P/NZX 50 closed 0.5% higher to 12,185 on Tuesday, marking its third consecutive session of gains, as optimism grew that the looming April 2 deadline for US reciprocal tariffs may bring milder measures than expected. President Donald Trump indicated that "a lot of countries" could receive tariff exemptions but confirmed upcoming duties on autos, pharmaceuticals, and aluminum. On the economic front, New Zealand's employment confidence weakened in Q1, with the Westpac McDermott Miller Index falling to 88.3 from 91.6 in Q4 2024, signaling subdued labor conditions. In corporate news, Spark NZ jumped over 4% after announcing that BlackRock and its affiliates increased their stake in the company to 8.1% from 5.9%. Solution Dynamics gained more than 1% following news of an on-market share buyback. Other notable gainers included Fisher & Paykel (+1.4%), Mercury NZ (+1.8%), and Port of Tauranga (+2.3%).

周二，新西兰元继续下跌至0.572美元左右，徘徊在一周低点附近，因为新西兰联储政策放松和美国互惠关税迫在眉睫的前景对出口驱动型货币造成了压力。特朗普总统宣布对汽车、制药和其他行业征收关税，同时暗示一些国家可能会在4月2日获得豁免或减税。在国内，尽管上周公布了强劲的GDP数据，但市场仍预计央行将进一步放松政策。政策制定者在2月份的会议上表示，4月和5月将两次降息25个基点，今年晚些时候可能会降息第三次。与此同时，新西兰人可能会从中国旨在刺激消费的预期刺激中得到缓解，鉴于中国作为主要贸易伙伴的作用，这可能会促进新西兰的出口。

The New Zealand dollar extended its decline to around $0.572 on Tuesday, hovering near a one-week low, as prospects of looser RBNZ policy and looming US reciprocal tariffs weighed on the export-driven currency. President Trump announced duties on autos, pharmaceuticals, and other industries while hinting that some nations may receive exemptions or reductions on April 2. At home, despite last week’s strong GDP data, markets still anticipate further easing from the central bank. Policymakers signaled during their February meeting two 25bps cuts in April and May, with a potential third later in the year. Meanwhile, the Kiwi could find relief from expected Chinese stimulus designed to spur consumption, which may boost New Zealand exports given China’s role as a key trade partner.

周二早盘，新西兰元50指数上涨42点，涨幅0.3%，至12170点，这是该指数第四个交易日上涨。周一，华尔街出现反弹，有迹象表明美国的贸易制裁可能没有人们担心的那么严重，包括特朗普总统建议一些国家可以获得豁免。在最大的贸易伙伴中国，中国央行重申了今年晚些时候下调银行存款准备金率和利率的计划，以支持疲软的经济。耐用消费品、医疗保健和能源矿产领涨，尽管全球存在不确定性，但对新西兰经济复苏持乐观态度。2024年第四季度，该国国内生产总值环比增长0.7%，扭转了由于旅游业激增和新西兰储备银行货币宽松政策的影响而连续两次下降的局面。进一步上涨的是，有报道称，由于劳动力条件仍然低迷，新西兰的就业信心在2025年第一季度下降。一些早期推动者包括Ryman Healthcare有限公司（2.9%）、Spark NZ有限公司（2.3%）和Genesis Energy有限公司（1.4%）。

The NZX 50 rose 42 points or 0.3% to 12,170 in Tuesday morning trade, marking its fourth session of gains. The advance followed a Wall Street rally Monday, driven by signs that U.S. trade sanctions may be less severe than feared, including President Trump’s suggestion that some countries could receive exemptions. In top trading partner China, the PBoC reiterated plans to cut banks' RRR and interest rates later this year to support the sluggish economy. Consumer durables, healthcare, and energy minerals led the gains, on optimism over New Zealand’s economic recovery despite global uncertainty. The country’s GDP grew 0.7% qoq in Q4 of 2024, reversing two consecutive declines due to a surge in tourism and the effects of RBNZ’s monetary easing. Capping further gains were reports that employment confidence in New Zealand fell in Q1 of 2025 as labor conditions remained subdued. Some early movers included Ryman Healthcare Ltd. (2.9%), Spark NZ Ltd. (2.3%), and Genesis Energy Ltd. (1.4%).

新西兰基准标准普尔/NZX 50指数周一微涨0.1%，收于12128点左右，因对即将到来的美国互惠关税的担忧限制了分销服务和公用事业股的涨幅。据报道，唐纳德·特朗普总统计划于4月2日宣布“解放日”关税，征收互惠关税，作为对美国贸易伙伴征收关税的“报复”。然而，他提出的实施“灵活性”的建议为更有针对性的方法带来了希望，有可能缓解市场的不确定性。在上涨股中，Steel&Tube上涨超过1%，而Meridian Energy、Mercury NZ和Contact Energy分别上涨2.3%、0.7%和0.9%。不利的一面是，Synlait Milk股价暴跌近11%，尽管该公司公布的上半年每股摊薄收益为0.0101新西兰元，从一年前0.4402新西兰元的亏损中恢复过来。

New Zealand's benchmark S&P/NZX 50 index edged up 0.1% to close around 12,128 on Monday, as concerns over looming US reciprocal tariffs limited gains in distribution services and utilities stocks. President Donald Trump is reportedly planning a "Liberation Day" tariff announcement on April 2, imposing reciprocal tariffs as "retribution" for those levied by US trade partners. However, his suggestion of "flexibility" in implementation has raised hopes for a more targeted approach, potentially easing market uncertainty. Among gainers, Steel & Tube rose over 1%, while Meridian Energy, Mercury NZ, and Contact Energy climbed 2.3%, 0.7%, and 0.9%, respectively. On the downside, Synlait Milk plunged nearly 11%, despite reporting fiscal half-year earnings of NZ$0.0101 per diluted share, recovering from a loss of NZ$0.4402 a year ago.