Image Source : Krish Capital Pty Ltd

Index Update: On 28th August 2025, the NZ market ended the trading session higher amidst broad-based buying momentum. On the same day, S&P/NZX 50 Index witnessed a rise of 0.32% to end at 12,903.080 and S&P/NZX 20 Index rose by 0.29% to 7,534.560. Also, S&P/NZX 10 Index encountered a rise of 0.11% to 12,517.980. Notably, strong buying was encountered in the energy sector and S&P/NZX All Energy rose by 4.87%.   

Macro Update: As per FEU dated 14 August 2025, the soft labour market is evident of weak demand as well as spare capacity in the broader economy. Also, consumer confidence as well as household spending is subdued amid the weak job market despite the reduced interest rates. The retail spending rose marginally in July (0.2%) as compared to June, and core card spending (excluding motor vehicles and fuel) remained flat.   

Top Market Movers: Among top gainers, Hallenstein Glasson Holdings Limited (NZX: HLG) witnessed a rise of 5.58%. On the same day, Vista Group International Ltd (NZX: VGL) fell by 6.09% to $2.93 per share.  

Commodity Update: The dollar slipped Thursday as traders priced in a possible Fed rate cut next month after New York Fed chief John Williams hinted at easing, while President Trump’s push to oust Fed Governor Lisa Cook added pressure. Gold rose 0.34% to $3,444.82, silver 0.49% to $38.883, and copper 0.38% to $9,800.05. Brent crude fell 0.33% to $66.99, weighed by softer U.S. fuel demand outlook and tariff-driven supply concerns.  

A graph with lines and numbers AI-generated content may be incorrect.

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. Despite a brief pullback, 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 hovering around the neutral zone, reflecting balanced market sentiment.  

Our Stance: It could be said that strong buying in the energy sector somewhat supported the broader NZ market on 28th August. As of now, the broader markets are being affected by the corporate earnings and macroeconomic news. Furthermore, the volatile currency and commodity markets continue to influence the investors’ sentiments. On August 29, the data about core PCE index is projected to be released. The investors need to track the developments which can affect the outlook of the interest rates.  

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