FX.co ★ NZ Stocks Edge Lower at Week’s Open

On Monday, New Zealand's S&P/NZX 50 index experienced a marginal decline of 0.1%, closing at 12,270. This marks the third consecutive drop for the index, driven predominantly by ongoing concerns over U.S. tariffs impacting market sentiment. Investors remained on edge as they awaited President Donald Trump's announcement on Wednesday regarding reciprocal duties, an event that could potentially exacerbate existing trade tensions. On the domestic front, a dip in business confidence was observed in March, indicating possible challenges in the economic recovery. Conversely, housing loans showed a positive year-over-year growth of 4.1%, reaching NZ$371.87 billion in February, an increase from 4% in January. In terms of sector performance, miscellaneous stocks registered significant losses with F&C Investment (-1.8%), Infratil (-1.3%), Australian Foundation (-1.7%), and Templeton Emerging (-1.3%) being particularly affected. However, the financial sector offered a bright spot, recording robust gains led by Westpac Banking (+3.3%) and ANZ Group (+2.1%).