The NZX 50 fell 66 points, or 0.5%, to close at 13,657 on Monday, halting gains in the prior two sessions, as plunging U.S. futures and escalating Middle East tensions curbed risk appetite. The conflict showed little sign of easing, with U.S. and Israeli leaders vowing continued strikes on Iran while Tehran pledged retaliation. Traders also positioned cautiously ahead of PMI readings later this week in China, New Zealand’s largest trading partner, amid concerns the Lunar New Year holiday may have slowed factory and services activity. Early losses were trimmed by strength in logistics and consumer services, though weakness in healthcare, financials, and non-energy minerals weighed on the index. Meanwhile, optimism sustained that monetary policy in New Zealand will remain accommodative, as signaled by the central bank recently. Notable laggards included Tourism Holdings (-9.6%), Napier Port Holdings (-4.2%), Briscoe Group (-4.2%), Ryman Healthcare (-3.6%), and Gentrack Group (-3.6%).
