New Zealand Shares Snap 4-day Win Streak

New Zealand's benchmark S&P/NZX 50 index fell 0.4% to close at 13,075 on Wednesday, ending a four-day winning streak. The local bourse tracked weakness on Wall Street overnight, where sentiment was weighed down by lingering concerns over the Federal Reserve’s independence and uncertainty surrounding President Donald Trump’s tariffs. Across the Tasman Sea, data showed the Australian economy expanded more than expected in the second quarter, suggesting resilience in the region and highlighting the contrast with New Zealand’s weaker performance. Domestically, attention remains focused on the upcoming appointment of a new RBNZ governor, with Prime Minister Christopher Luxon signaling that a decision could be announced within weeks. On the corporate side, several blue-chip stocks weighed on the index, with notable declines in Spark NZ (-1.9%), Auckland Intl Airport (-1.5%), Infratil (-0.8%), Mercury NZ (-2.2%), a2 Milk (-2.8%), and Ebos Group (-1.8%).