2026.03.1622:59:52UTC+00Equities in New Zealand Muted After Food Inflation Data

New Zealand shares were largely unchanged in Tuesday’s morning trade, with the benchmark index hovering near 13,174 after three straight sessions of losses. Investors assessed fresh data showing food price inflation accelerated for a second consecutive month, rising to 4.5% in February from 4.2% in January. Attention also shifted to the upcoming Q4 GDP release later this week and the U.S. Federal Reserve’s policy meeting, where interest rates are widely expected to be left on hold. Markets will be watching Chair Powell’s comments closely for any hints on how the conflict in the Middle East could influence the U.S. economic outlook.

In China, New Zealand’s largest trading partner, January–February activity data exceeded expectations, with industrial production, retail sales, and fixed asset investment all coming in stronger than forecast. On the NZX 50, gains in consumer durables and industrial services were offset by weakness in financials and communications. Notable gainers included Summerset Group (up 1.1%), Genesis Energy (0.9%), and Auckland International Airport (0.7%), while Scott Technology (-1.3%), Delegat Group (-1.2%), and South Port New Zealand (-0.9%) underperformed.