The S&P/NZX 50 slipped 0.6% to close at 13,118 on Monday, extending its losses for a second consecutive session and remaining near a four-month low, with sentiment subdued amid holiday-related closures across key Asian markets. Selling was broad-based, with most sectors in negative territory, including major index groups such as industrials, utilities, and healthcare.
Domestic data released over the weekend reinforced the risk-off mood. The services PMI eased in January, indicating a slowdown in activity, while credit card spending fell on a month-on-month basis, suggesting softening consumer momentum, even though annual growth remained modestly positive.
Investors kept risk exposure in check ahead of January food price figures due Tuesday and the Reserve Bank of New Zealand’s interest rate decision on Wednesday. Among the notable decliners were Ryman Healthcare (-5.4%), Meridian Energy (-3.1%), Infratil (-2.5%), and Mercury NZ (-1.4%).
