FX.co ★ NZX50 Posts Worst Day in Two Months

New Zealand's S&P/NZX 50 index experienced a downturn, declining by 1% to settle at 13,580 on Monday. This marked its most significant intraday drop since last November. The market sentiment was negatively affected by the reemergence of US tariff threats against several European countries over Greenland, heightening global trade uncertainties and presenting challenges for New Zealand's trade-sensitive economy. Additionally, China's GDP growth in the fourth quarter was the slowest annual increase in nearly three years, although it met the 5% full-year target. This offered minimal support to New Zealand, due to China being its main trading partner. On the exchange, the index's decline was predominantly led by A2 Milk, which plummeted over 11%, experiencing its worst day in nearly eighteen months. This decline was attributed to falling birth rates in China, diminishing its prospective customer base and impacting growth potential in a crucial market. Other significant decliners included Gentrack Group (-2.7%), Scott Technology (-2.4%), Fletcher Building (-2.3%), and Vista Group (-2.2%).