新西兰基准标准普尔/NZX 50指数周三下跌0.4%，收于13075点，结束了连续四天的上涨。当地股市隔夜追随华尔街的疲软，市场情绪受到对美联储独立性的持续担忧和围绕唐纳德·特朗普总统关税的不确定性的拖累。在塔斯曼海对岸，数据显示澳大利亚经济在第二季度的扩张超出预期，增强了该地区的韧性。在国内，人们的注意力仍然集中在即将任命的新西兰皇家银行新行长上，总理克里斯托弗·卢克森表示，可能会在几周内宣布决定。在企业方面，几只蓝筹股拖累了该指数，Spark NZ（-1.9%）、奥克兰国际机场（-1.5%）、Infratil（-0.8%）、Mercury NZ（-2.2%）、a2 Milk（-2.8%）和Ebos Group（-1.8%）的跌幅显著。

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 by more than expected in the second quarter, reinforcing resilience in the region. 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%).

新西兰元周三保持近期下跌至0.585美元左右，由于国内经济疲软，人们越来越期待储备银行进一步放宽政策。最近的数据显示，6月份季度出口量大幅下降，而进口量大幅上升，表明贸易可能对GDP造成重大压力。目前，分析师预计将再降息两次，这将使现金利率降至2.50%，为2022年中期以来的最低水平。然而，新西兰元的下行压力被更广泛的美元疲软部分抵消，因为交易员在对美联储独立性的担忧挥之不去的同时，加大了对美联储本月晚些时候降息的押注。在国内，投资者的注意力正转向即将任命的新西兰储备银行新行长，总理克里斯托弗·卢克森表示，可能会在几周内宣布决定。

The New Zealand dollar held its recent decline to around $0.585 on Wednesday amid mounting expectations of further policy easing by the Reserve Bank, given the amount of slack in the domestic economy. Recent data showed a sharp fall in export volumes during the June quarter, while import volumes rose significantly, indicating that trade likely weighed heavily on GDP. Currently, analysts are anticipating two more rate cuts, which would bring the cash rate down to 2.50% — the lowest level since mid-2022. However, downside pressure on the kiwi was partly offset by broader US dollar weakness, as traders raised bets on a Federal Reserve rate cut later this month while concerns about the Fed’s independence lingered. Back at home, investor attention is turning to the upcoming appointment of a new RBNZ governor, with Prime Minister Christopher Luxon signaling that a decision could be announced within weeks.

新西兰数据：2025年8月商品价格指数上涨0.7%（之前为-1.8%）。澳新银行世界商品价格指数8月份上涨0.7%m/m，同比上涨1.8%，以新西兰元计算上涨9.3%，该指数上涨2.1%m/m，新西兰元本月走弱。澳新银行评论道：该指数的所有组成部分都上涨了，除了铝指数自5月以来因乳制品价格下跌而一直在下跌，但这一趋势在8月份发生了逆转。更多：8月份全球航运价格喜忧参半。出口商预计，由于全球需求减少，未来几个月成本将有所下降。

New Zealand data: August 2025 Commodity Price Index +0.7% m/m (prior -1.8%).The ANZ World Commodity Price Index rose 0.7% m/m in August prior -1.8% for the y/y +9.3% in NZD terms the index rose 2.1% m/m, with the NZD weakening over the month ANZ comments: all components of the Index rose, except aluminium index had been drifting lower since May due to falling dairy prices, but this trend reversed in August More: Global shipping prices were mixed in August. Exporters expect costs to ease in coming months due to reduced global demand.

周三早盘交易中，新西兰股市下跌13点，跌幅0.1%，至13120点，停止了前四个交易日的涨幅，主要原因是非必需消费品、公用事业和房地产的疲软。由于贸易政策、利率和经济数据的不确定性，新西兰元50指数隔夜下跌。新西兰总理克里斯托弗·卢克森上周批评央行没有大幅降息以刺激经济后，交易员们正在关注新西兰储备银行新任行长的几位候选人。交易员还预计本周晚些时候公布的美国就业数据可能会指导美联储本月的货币政策决定。此外，他们还在等待今天晚些时候公布的中国服务业采购经理人指数，此前周一的数据显示，中国大陆的工厂活动以五个月来最快的速度增长。早期失败者包括AFT Pharmaceuticals（-1.5%）、Vulcan Steel（-1.2%）、A2 Milk（-0.9%）和Chorus（0.9%）。

Equities in New Zealand fell 13 points, or 0.1%, to 13,120 in early deals on Wednesday, halting gains from the previous four sessions, mainly driven by weakness in consumer discretionary, utilities, and real estate. The NZX 50 tracked a decline on Wall Street overnight amid uncertainty around trade policy, interest rates, and economic data. Traders are eyeing a couple of candidates for the new RBNZ governor, after New Zealand PM Christopher Luxon last week criticized the central bank for not cutting the interest rate aggressively enough to stimulate the economy. Traders also anticipated US jobs data due later this week, which could guide the Fed's monetary policy decision this month. Additionally, they awaited China’s services PMI due later today, after Monday’s data showed that factory activity on the mainland grew at the fastest pace in five months. Among early losers were AFT Pharmaceuticals (-1.5%), Vulcan Steel (-1.2%), A2 Milk (-0.9%), and Chorus (-0.9%).