The NZX 50 dropped 18 points, or 0.1%, to 12,867 in morning trade on Friday, after remaining nearly flat over the previous month, weighed down by healthcare, industrials, and communication services. Traders continued to monitor developments in U.S. trade tariff policy amid signs of renewed trade tensions, following President Trump’s decision to impose an additional 25% tariff on Indian imports. Caution also grew ahead of the release of consumer and producer prices in China - New Zealand’s main trading partner - due on Saturday. Markets expect the CPI to return to decline amid continued weak demand in the mainland. A slew of data from China, including retail sales and industrial production, is set to be announced next week. Among early losers were South Port NZ (-3.0%), Fisher & Paykel (-1.2%), and ANZ Group (-0.8%). However, the index remains on track for a 1.2% weekly gain - its first rise in three weeks - amid hopes of interest rate cuts at the upcoming RBNZ meeting.