New Zealand’s benchmark S&P/NZX 50 index dropped 1% to close at 13,580 on Monday, marking its worst intraday performance since November last year. Sentiment was dampened by renewed US tariff threats on several European countries over Greenland, raising global trade uncertainty and posing risks to the trade-sensitive Kiwi economy. Meanwhile, China’s GDP grew at its slowest annual pace in nearly three years in Q4, though it still reached its 5% full-year target, providing little support for New Zealand, given China is its top trading partner. Across the bourse, the index was led lower by A2 Milk, which slid more than 11% in its worst day in nearly a year and a half, as declining birth rates in China reduce its potential customer base, weighing growth prospects in a key market. Other key laggards included Gentrack Group (-2.7%), Scott Technology (-2.4%), Fletcher Building (-2.3%), and Vista Group (-2.2%).
