The NZX 50 slipped 66 points, or 0.5%, to finish at 13,657 on Monday, snapping a two-day advance, as a sharp decline in U.S. futures and rising tensions in the Middle East dampened risk appetite. The conflict showed few signs of easing, with U.S. and Israeli leaders vowing to continue strikes on Iran, while Tehran pledged retaliation.
Sentiment was further constrained as traders adopted a cautious stance ahead of this week’s PMI releases from China, New Zealand’s largest trading partner, amid concerns that the Lunar New Year holiday may have slowed manufacturing and services activity.
Early declines on the NZX 50 were partially offset by gains in logistics and consumer services, but losses in healthcare, financials, and non-energy minerals ultimately dragged the index lower. At the same time, optimism persisted that New Zealand’s monetary policy will remain accommodative, in line with recent guidance from the central bank.
Among the notable decliners were Tourism Holdings (-9.6%), Napier Port Holdings (-4.2%), Briscoe Group (-4.2%), Ryman Healthcare (-3.6%), and Gentrack Group (-3.6%).
