FX.co ★ New Zealand Shares Inch Lower to Kick Off Week

On Monday morning, New Zealand's stock market experienced a slight dip, with a 19-point or 0.1% decline, bringing the index to 13,445. This marks the third consecutive drop, notably impacting the healthcare and consumer non-durables sectors. The market lingered at a two-week low as traders evaluated October's food inflation data, which rose to 4.7% following a five-month low in September. The PMI results were mixed; while the business PMI hit a three-month peak, the services PMI remained stagnant. In the United States, futures showed little movement, influenced by Federal Reserve officials' warnings that persistent inflation might preclude a rate cut this year. Meanwhile, in China, economic indicators for October fell short of expectations, with industrial production and retail sales recording their slowest growth in 14 months, ahead of the People's Bank of China's anticipated rate decision later in the week. Despite these challenges, the market found some stability through minor gains in the energy sector and specific financial stocks, as investors shifted towards defensive options. Notable declines were seen in companies such as Vista Group Intl. (-1.9%), T&G Global (-1.8%), Ryman Healthcare (-1.4%), and A2 Milk Co. (-1.1%).