新西兰基准标准普尔/NZX 50指数周五下跌0.6%，收于12687点，抹去了早些时候的涨幅，标志着其连续第三次下跌，因为对美国贸易政策的重新担忧打压了市场情绪。美国总统唐纳德·特朗普周四表示，美国计划对大多数其他贸易伙伴征收15%或20%的全面关税，此举给新西兰带来了新的挑战，新西兰一直只面临10%的征税。在国内新闻方面，新西兰制造业在6月份略有改善，但仍处于收缩区域，因为企业继续努力应对需求疲软、生活成本高和经济不确定性。在企业方面，指数权重股斐雪派克（-1.6%）、Meridian Energy（-1.9%）、Spark NZ（-1.4%）、Mainfreight（-1.8%）和Contact Energy（-0.8%）是当天表现最差的股票之一。本周，新西兰元50指数下跌0.6%，结束了三周的连胜。

New Zealand's benchmark S&P/NZX 50 index dropped 0.6% to close at 12,687 on Friday, erasing earlier gains to mark its third straight decline as renewed concerns over US trade policy weighed on sentiment. President Donald Trump on Thursday said the US planned to impose blanket tariffs of 15% or 20% on most other trade partners—a move that presents new challenges for New Zealand, which had been facing just a 10% levy. In domestic news, New Zealand’s manufacturing sector showed a modest improvement in June but remained in contraction territory, as firms continued to grapple with weak demand, high living costs, and economic uncertainty. On the corporate front, index heavyweights Fisher & Paykel (-1.6%), Meridian Energy (-1.9%), Spark NZ (-1.4%), Mainfreight (-1.8%), and Contact Energy (-0.8%) were among the session’s worst performers. For the week, the NZX 50 slipped 0.6%, snapping a three-week winning streak.

周五，新西兰元贬值至0.602美元左右，结束了两天的涨势，因为美国总统唐纳德·特朗普再次发出关税威胁后，风险情绪恶化。周四，特朗普表示，美国计划对大多数其他贸易伙伴征收15%或20%的全面关税，此举给新西兰带来了新的挑战，新西兰一直只面临10%的征税。在货币政策方面，正如普遍预期的那样，新西兰储备银行本周将其官方现金利率稳定在3.25%，但如果经济状况如预期般发展，它为8月份可能降息敞开了大门。市场预计下个月降息25个基点的可能性为65%，进一步降息至2.75%的可能性几乎相等。在经济新闻方面，新西兰6月份的制造业活动略有上升，但仍处于收缩状态，因为企业继续努力应对需求疲软、生活成本高和经济不确定性。本周迄今为止，新西兰元下跌了0.6%。

The New Zealand dollar depreciated to around $0.602 on Friday, ending a two-day gain, as risk sentiment soured following renewed tariff threats from US President Donald Trump. On Thursday, Trump said the US planned to impose blanket tariffs of 15% or 20% on most other trade partners—a move that poses fresh challenges for New Zealand, which had been facing just a 10% levy. On the monetary policy front, the Reserve Bank of New Zealand this week held its official cash rate steady at 3.25% as widely expected, though it left the door open to a potential rate cut in August should economic conditions evolve as anticipated. Markets are pricing in a 65% chance of a 25bps cut next month, with nearly even odds of a further reduction to 2.75%. In economic news, New Zealand's manufacturing activity rose slightly in June but remained in contraction, as firms continued to struggle with weak demand, high living costs, and economic uncertainty. The kiwi is down 0.6% so far this week.

新西兰BNZ制造业增长至48.8，形势依然严峻。新西兰制造业在6月份显示出温和的稳定迹象，新西兰商业制造业表现指数从47.4上升到48.8。虽然仍显示出收缩的迹象，但新订单的令人鼓舞的反弹支撑了这一增长，新订单从45.4跃升至51.2，重新开始扩张。

New Zealand BNZ manufacturing rises to 48.8, conditions still very tough.New Zealand's manufacturing sector showed modest signs of stabilization in June, with the BusinessNZ Performance of Manufacturing Index rising from 47.4 to 48.8. While still signaling contraction, the gain was underpinned by an encouraging rebound in new orders, which jumped from 45.4 to 51.2—breaking back into expansion.

周五早盘，新西兰股市上涨15点，涨幅0.1%，至12776点，扭转了前两个交易日的跌势，主要受工业、通信服务和科技板块上涨的支撑。由于投资者关注强劲的企业业绩，NZX 50指数隔夜追随华尔街上涨。然而，由于华盛顿和北京之间的贸易谈判仍存在不确定性，交易员们预计新西兰最大贸易伙伴中国将于周六公布贸易数据。交易员还预计下周将公布一系列国内数据，包括商业服务和食品通胀数据。在数据方面，6月份新西兰商业PMI略有上升，但仍处于收缩状态。本周，由于美国贸易关税的不确定性持续存在，该指数在连续第三周上涨后保持沉默。早期上涨股包括AFT Pharmaceuticals（1.5%）、Gentrack Group（1.0%）、F&C Investment（0.8%）和Mainfreight（0.6%）。

New Zealand's stocks rose 15 points, or 0.1%, to 12,776 in morning trade on Friday, reversing losses from the previous two sessions, mainly supported by gains in the industrials, communication services, and tech sectors. The NZX 50 tracked a rise on Wall Street overnight, as investors focused on strong corporate results. However, traders were anticipating the release of trade data from New Zealand's top trading partner, China, on Saturday, amid ongoing uncertainty surrounding trade negotiations between Washington and Beijing. Traders also expected a slew of domestic data next week, including figures on business services and food inflation. On the data front, New Zealand business PMI rose slightly in June, but remained in contraction. For the week, the index remained muted, following its third consecutive weekly gain, amid continued US trade tariff uncertainty. Among early gainers were AFT Pharmaceuticals (1.5%), Gentrack Group (1.0%), F&C Investment (0.8%), and Mainfreight (0.6%).