New Zealand's benchmark S&P/NZX 50 index fell 1% to end at 13,432 on Thursday, weighed down by losses across most sectors. Heath tech and utility stocks were among the hardest hit, with heavyweights Fisher & Paykel (-1.7%), Ebos Group (-2.3%), Meridian Energy (-1.9%), Contact Energy (-1.5%), and Mercury NZ (-1.55%) posting notable declines. The market brushed off comments from Reserve Bank of New Zealand Governor Christian Hawkesby, who noted that early indicators point to the economy expanding in the second half of the year, with demand settling into a steadier pace. Supporting this view, data showed retail sales rose much faster than expected in the third quarter, while business confidence surged to an 11-year high in November. These developments came after the central bank cut rates on Wednesday and signalled that its easing cycle has likely come to an end. The RBNZ has appointed Rodger Finlay as its new board chair.