The benchmark S&P/NZX 50 index in New Zealand concluded Monday's trading session with a 0.3% decline, marking a continuous four-day loss streak. Investor sentiment remained cautious following the US military attack on Iran, which has heightened concerns of increased tension in the Middle East. The US initiated airstrikes targeting three Iranian nuclear facilities early Sunday morning, signifying a more direct American involvement in the existing conflict between Israel and Iran. President Trump stated that crucial Iranian nuclear sites had been "completely destroyed" and issued a warning of "significantly more severe" attacks should Iran not pursue peace.
Domestically, investors are turning their focus to key economic indicators expected this week, such as the trade balance figures and consumer confidence reports, to gain deeper insights into New Zealand's economic health. Within the stock market, financial and transportation sectors were among the hardest hit. Significant declines were seen in major companies, including Westpac Banking, which fell by 2.6%, ANZ Group Holdings with a 4% drop, Precinct Properties decreasing by 1.2%, Auckland International Airport down by 1.5%, and Freightways slipping by 2.4%.
