Index Update: On 10th October 2025, the broader NZ market ended the trading session in red amidst selling in the healthcare sector. On the same day, S&P/NZX 50 Index witnessed a fall of 0.76% to end at 13,467.260 and S&P/NZX 20 Index fell by 0.79% to 7,710.000. Also, S&P/NZX 10 Index declined by 1.19% to 12,760.760. Notably, S&P/NZX All Health Care witnessed a fall of 2.36% to end at 2,996.550.    

Macro Update: RBNZ stated that the Committee discussed the impact of trade restrictions as well as tariffs on the broader global economy. Notably, aggregate global trade volumes and economic activity have been resilient so far. Notably, growth expectations for 2025 have been revised higher for several trading partners, mainly for China, Taiwan, and some other Asian economies.    

Top Market Movers: Among top gainers, Cooks Coffee Company Limited (NZX: CCC) witnessed a rise of 9.26% to end at $0.295 per share. On the other hand, Winton Land Limited (NZX: WIN) declined by 3.75%.  

Commodity Update: The yen hovered near 153.12 per U.S. dollar, set for its steepest weekly drop in a year as fading prospects of another Bank of Japan rate hike weighed on sentiment. Gold rose 0.71% to $4,000.95, silver gained 0.84% to $47.56, and copper slipped 0.54% to $10,822.45. Brent crude was flat at $65.22, steady after the Israel-Hamas ceasefire eased risk premium, offset by fresh U.S. sanctions on Iran and concerns over weak winter fuel demand. 

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Source: Trading View, Analysis: Kalkine Group 

After beginning a short-term rally in April 2025, the S&P/NZX 50 index has recently revisited its 2024 peak at 13,270. Additionally, the index continues to register higher highs and higher lows, signaling that the uptrend is still intact. A decisive break above this resistance would strengthen bullish momentum and potentially pave the way for a test of the all-time high at 13,636. On the downside, immediate support lies at 12,750, with a breach of this level serving as an early warning signal. Meanwhile, the 14-day Relative Strength Index (RSI) is heading north from its midpoint, reflecting a positive market sentiment. 

Our Stance: It could be said that selling in the healthcare sector somewhat impacted the broader NZ market on 10th October. Amidst the macro-economic uncertainties and geopolitical worries, the investors seem to be focusing on the earnings updates. RBNZ stated that the economic activity in NZ remained subdued as compared to other economies, resulting in the lower exchange rate. This, along with the increased commodity export prices, continues to offer some support to the broader domestic economy in the very near term.  

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