The New Zealand sharemarket closed virtually flat on Friday, with the S&P/NZX 50 index settling at 13,722.29, down 23.02 points or 0.17%.
The muted performance came even as Brent crude oil prices surged, reflecting heightened concerns over shipping disruptions in the Strait of Hormuz.
35 points or 0.01%. The flat performance underscores the market’s hesitation to commit to significant directional bets amid ongoing geopolitical uncertainties and domestic economic hesitancy.
Investors appeared to weigh the potential upside for energy stocks against broader geopolitical uncertainty, resulting in a subdued trading session.
The index’s slight decline marks a continuation of the cautious tone that has characterized recent trading, as market participants navigate lingering risks from global supply chain tensions.
This session follows a period of subdued activity, with the index closing nearly unchanged at 13,696.03 in the previous session, gaining just 1.35 points or 0.01%.
The flat performance underscores the market’s hesitation to commit to significant directional bets amid ongoing geopolitical uncertainties and domestic economic hesitancy.