The S&P/NZX 50 index closed 0.1% lower at around 12,561 on Friday, snapping a two-day winning streak, as investors continued to assess global trade developments. Traders remained cautious amid lingering uncertainty over US tariffs, following a phone call between US President Donald Trump and Chinese President Xi Jinping, during which both leaders agreed to resume trade talks. Despite Friday’s dip, the benchmark index posted its first weekly gain in three, supported by strength in financial and utility stocks. Westpac Banking and Precinct Properties both rose more than 1%. Among utilities, Meridian Energy jumped over 2%, while Contact Energy gained more than 1%. On the downside, shares in the miscellaneous and healthcare sectors were in the red, with notable losses from F&C Investment (-1.2%), Infratil (-1.4%), Fisher & Paykel (-1.7%), and Ebos Group (-1.4%).