New Zealand shares fell sharply on Monday, with the NZX 50 dropping 173 points, or 1.3%, to 12,763 in early trade, extending losses from the previous session. The decline mirrored weakness in U.S. futures amid growing concerns that the economic fallout from the Iran war, now in its fifth week, could be more prolonged than initially expected.
Domestic sentiment was further undermined by fresh data showing consumer confidence slipped to a 17‑month low in March. Business confidence figures, due later this week, are also in focus after having already fallen to a four‑month low in February.
Investors are additionally awaiting March PMI readings—both official and private—in China, New Zealand’s largest trading partner, which is contributing to the cautious mood.
All sectors in the NZX 50 were in negative territory, with particular pressure on consumer, manufacturing, healthcare, and non‑energy mineral stocks. Notable decliners included Seeka Ltd. (-3.2%), Skellerup Holdings (-2.6%), Freightways Group (-2.3%), and Infratil Ltd. (-1.8%).
