New Zealand shares rose 112 points, or 0.8%, to close at 13,420 on Monday, rebounding from a 1.0% loss in the previous session, supported primarily by healthcare, producer manufacturing, and consumer non-durables stocks. Risk appetite improved after the U.S. Supreme Court struck down Trump’s sweeping levies, prompting him to lift temporary tariffs on imports to 15% from 10%. Trump is also scheduled to visit China from March 31 to April 2 for talks with Xi Jinping, with discussions likely to focus on tariffs.
On the domestic front, Q4 2025 retail sales exceeded expectations, driven by stronger discretionary spending. The Reserve Bank last week left the cash rate unchanged at 2.25% and signaled that no hikes are likely until economic growth shows more convincing strength.
Gains on the NZ market were limited, however, by a sharp drop in U.S. futures ahead of Nvidia’s results later this week, after U.S. Q4 growth slowed more than anticipated and December inflation accelerated. Among individual movers, Tourism Holdings climbed 9.2%, Winton Land gained 6.1%, Fisher & Paykel Healthcare advanced 3.6%, and Fonterra Co-Op added 2.5%.
