NZX 50 Closes Week Higher Despite GDP Slowdown

New Zealand's stock market closed the week on a positive note, ending 1.1% higher after reversing morning gains and halting a two-session winning streak.

The NZX 50 lost 17 points to close at 13,739 on Friday, as traders digested GDP data showing New Zealand's economy eased to 0.1% quarterly from 0.2%.

Despite this slowdown, the trade deficit narrowed in August from July, and food inflation remained at a 19-month low.

The market also received a boost from easing oil prices and softer Treasury yields, which helped offset losses in consumer staples, financials, and communication services.