FX.co ★ New Zealand Stocks Kick off the Week Lower

The NZX 50 index saw a decline of 54 points, or 0.4%, settling at 13,353 as trading commenced on Monday. This downturn halted a two-day streak of gains, influenced by weak signals from Wall Street on Friday, which shifted investor focus from U.S. tech stocks to value stocks. Concurrently, data revealed a significant decrease in New Zealand’s services activity for November, marking the greatest drop in six months and remaining below the long-term average. Anticipation is also building for the November food inflation report, following a slight uptick in October after hitting a five-month low in September. Nevertheless, the decline was not as severe as it could have been, thanks to encouraging indicators from China—New Zealand’s predominant trading partner. Chinese policymakers recently committed to sustaining a proactive fiscal approach through 2026 and expressed confidence in the nation’s long-term economic growth prospects. On the sector front, industrial services, non-energy minerals, and financials experienced the most significant losses, with companies like Fletcher Building Ltd. (-1.9%), T&G Global Ltd. (-1.7%), Sanford Ltd. (-1.7%), and A2 Milk Co. (-1.6%) emerging as notable laggards.