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Market Update: NZX Struggles to Gain Traction

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Market Update: NZX Struggles to Gain Traction

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Market Update: NZX Struggles to Gain Traction
New Zealands main stock index fell for the third session in a row on Friday, with the NZX 50 index dropping towards the 12,500 level as weakness in the technology sector offset gains among consumer staples. Market sentiment was still dominated by concerns that rising inflation will prompt central banks to tighten monetary policy sooner and more abruptly than expected. Kathmandu Holdings Ltd and Tourism Holdings Ltd were among the biggest laggards on the NZX, down 1.9% and 1.6%, respectively. As a result, the index is on track to end the week on a sour note. [/s2If]
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