New Zealand shares hit record high as oil price slump lifts investor sentiment

Brent crude slipping below $75 per barrel is easing cost pressures and fueling a rally in the NZX, with Harbour Asset Management forecasting a strong second half for local equities.

By Handelsavisen Newsroom · Automated 2026-07-09 21:05 UTC · 1 min read

The New Zealand sharemarket reached a new all-time high this week, driven by a sustained decline in global oil prices that is reshaping investor sentiment ahead of the second half of the year.

The rally marks a significant shift in local market dynamics, as lower energy costs begin to permeate broader economic expectations.

Brent crude futures have retreated below the $75 per barrel threshold, capping a week of significant declines in energy markets.

Brent crude futures have retreated below the $75 per barrel threshold, capping a week of significant declines in energy markets.

This pullback reflects easing supply-side pressures and a broader shift in risk sentiment.

For the New Zealand economy, which is heavily exposed to imported fuel costs, the drop in benchmark prices provides immediate relief to household budgets and corporate input costs.

Harbour Asset Management has highlighted the positive implications of this trend, expecting the local sharemarket to improve significantly in the second half.