Daily newsletter · Mon 9 Nov 2026
New Zealand voted on Saturday and will not know the result until 27 November
National and Labour each took just short of 30% of the party vote on Saturday. The National-led coalition with ACT and New Zealand First holds 67 of a projected 131 seats, one more than the 66 it needs for a majority.
The special votes will decide it. About 14% of the ballots are still to be counted, cast overseas or outside the voter's own electorate. They have historically leaned left, and the final count lands on 27 November, three weeks after the vote.
Neither leader claimed the win. Christopher Luxon said National is again the largest party in parliament and has a pathway to government, though it is too close to call. Chris Hipkins told supporters the next parliament will require all of them to compromise.
Markets had larger things to think about. The NZX 50 set a record close of 14,090.97 on Thursday as the American midterm result landed, gave back 0.66% on Friday, and still finished the week 1.46% higher.
coalition talks cannot start properly until the final count, so three weeks pass with nobody able to say who sets fiscal policy. Business groups have warned the wait could take the edge off Christmas trading, and retailers find that out before anyone else.
General information and commentary only, not financial advice. It does not take account of your objectives, financial situation or needs, and reflects the author's own reading of public information at the time of writing, which may be wrong. Sharespective, its people and its clients may hold positions in the companies covered. Do your own research and talk to a licensed adviser.