New Zealand’s benchmark S&P/NZX 50 index fell 1% to close at 13,464 on Friday, extending losses from the previous session to hit a two-week low. The local market followed Wall Street’s sharp decline overnight, led by a broad tech sell-off, while comments from US Federal Reserve officials dampened hopes of a December rate cut Investors also largely shrugged off local data showing New Zealand’s manufacturing sector expanded for a fourth consecutive month in October. Almost all sectors finished lower. Notable losses were seen in Ryman Healthcare (-3.1%), Infratil (-1.6%), Auckland Intl Airport (-0.9%), Spark NZ (-0.9%), Meridian Energy (-0.85%), and Contact Energy (-1.0%). For the week, the index shed 1%, snapping three straight weeks of gains.
