FX.co ★ New Zealand Stocks Fall to Kick Off Week

Equity markets in New Zealand saw a notable decline of 141 points, or 1.0%, dropping to 13,327 during Monday morning trading. This downturn aligns with a resurgence of US-China trade tensions, following a recent statement from US President Trump threatening to enforce 100% tariffs on Chinese imports. The NZX 50 recorded its second successive session of losses, reaching its lowest mark since September 30, with every sector witnessing declines. The energy sector was particularly hard hit, with a drop of 2.7%. Investors also exhibited caution ahead of today's anticipated trade data release from China, New Zealand's principal trading partner. Nevertheless, optimism from a robust session in US futures provided some relief following Trump's reassurance that trade relations with China "will all be fine." On the domestic front, data indicated that New Zealand's services sector has remained in a state of contraction for the 19th consecutive month, plagued by diminishing sales and new orders. In contrast, the growth of tourist arrivals gained momentum in August. Among the most significant decliners were Freightways Group, down 2.8%, Channel Infrastructure down 2.7%, Kiwi Property also down 2.7%, Fletcher Building which fell 2.4%, and Ebos Group which experienced a 1.0% decrease.