New Zealand Shares Poised to End Week Quietly

New Zealand stocks declined by 23 points, or 0.2%, to 13,492 during early Friday trading, marking a second consecutive session of losses. Weakness in consumer durables, producer manufacturing, and retail trade influenced market sentiment negatively. Traders maintained a cautious stance in anticipation of the U.S. PCE index release later today, a crucial inflation indicator preceding the Federal Reserve's final policy meeting of the year next week. They also awaited important updates from China, including CPI and PPI data, in addition to trade figures from major trading partners. Meanwhile, U.S. futures showed minimal movement as investors continued to evaluate whether the valuations of AI companies are excessively high. Locally, Q3 manufacturing sales data is expected next week, following a decline in Q2, amid ongoing supply chain challenges and weak demand. It appears that markets are likely to end the week on a subdued note after previous losses.