FX.co ★ New Zealand Stocks Close Lower

The S&P/NZX 50 Index decreased by 0.2% to finish at 12,539 on Monday, continuing the downturn seen in the previous session. Investors maintained a cautious outlook despite emerging signs of easing global trade tensions. This cautiousness follows an important conversation between US President Donald Trump and Chinese President Xi Jinping last week, with officials from both nations expected to resume trade negotiations later on Monday. Contributing to the negative market sentiment, new Chinese data highlighted ongoing deflationary pressures, as consumer prices fell for the fourth consecutive month and producer prices experienced their steepest decline in nearly two years. These developments present potential risks to New Zealand exports, considering China’s significant role as a trading partner. Among major stocks, prominent decliners included Fisher & Paykel (-1.1%), Infratil (-1%), Contact Energy (-0.9%), and Fletcher Building (-1.6%).