New Zealand equities fell 32 points or 0.3% to 13,220 in Wednesday’s morning session, down for a second day as weakness in healthcare, commercial services, and retail weighed on sentiment. Traders remained cautious ahead of key data from top trading partner China, with August CPI and PPI due later today. Deflation risks in the mainland remain a concern, with consumer prices flat in July and producer prices falling for the 34th straight month. Adding to the bearish tone, ANZ said it will cut 3,500 jobs next year, one of the largest layoffs in the banking sector in recent years. U.S. futures were mixed after modest Wall Street gains on Tuesday, as a downward payroll revision for the year through March raised doubts about the economy’s resilience. Losses were offset by local data showing tourist arrivals in New Zealand surged 6.6% in July, a sharp rebound from June’s 0.8% gain. Early decliners included Winton Land (-3.7%), Fisher & Paykel Healthcare (-1.7%), and Briscoe Group (-1.2%).