The NZX 50 slipped 31 points, or 0.2%, to close at 13,942 on Monday, giving back some of its gains from the previous session. The move followed weakness on Wall Street on Friday, as stronger-than-expected US labour data reinforced expectations that the Federal Reserve will raise interest rates at its upcoming meeting.
Caution also prevailed ahead of the release of China’s August CPI, PPI, and trade data later this week. Sentiment was further pressured by rising oil prices amid escalating conflict in the Middle East, stoking renewed inflation concerns and strengthening bets on further interest rate hikes by major central banks.
Locally, investors digested the latest Taxpayers' Union–Curia poll, which showed support for the Labour Party falling to its lowest level since July 2024.
Sector-wise, materials, healthcare, real estate, and communication services were the main drags on the index. Notable decliners included Vulcan Steel (-4.6%), Fisher & Paykel Healthcare (-1.2%), Hallenstein Glasson (-2.0%), ANZ Group (-0.9%), Mainfreight (-0.7%), and Westpac Banking Corp (-0.6%).
