FX.co ★ New Zealand Stocks Head for 3rd Straight Monthly Losses

In early trading on the last day of the month, New Zealand's equities saw a decline of 46 points, or 0.4%, settling at 12,241. This marked the third consecutive day of losses, driven primarily by drops in the industrial, tech, and consumer staples sectors. The NZX 50 reflected a similar sentiment to Friday's lackluster session on Wall Street, amidst heightened concerns about rising inflation and growing uncertainties surrounding trade policies. Investors exercised caution as they braced for potential intensification in the global trade conflict looming ahead of April 2. Anticipation was also building around the upcoming release of China's March Purchasing Managers' Index (PMI) data due later today, along with New Zealand's business confidence figures expected this week. Among the major stocks under pressure were Serko, which fell 3.0%, Auckland International Airport at -2.6%, Fletcher Building down 2.4%, Gentrack Group slipping 1.3%, and Ebos Group losing 0.7%. For the month, the index is poised for a 2.7% decline, marking the third consecutive monthly downturn as global trade uncertainty persists.