The NZX 50 fell 36 points, or 0.3%, to close at 13,620 on Tuesday, extending the prior day’s losses as U.S. stock futures retreated sharply as Middle East tensions fueled inflation fears through higher oil prices. President Trump said Monday that U.S. military operations against Iran could last four to five weeks, while Wellington noted it is monitoring the crisis and its impact on New Zealanders in the region. In Australia, the central bank signaled a rate hike could come as early as this month if inflation expectations drift higher. Consumer durables, logistics, and producer manufacturing led declines, though gains in non-energy minerals and financials helped limit losses. Notable laggards included Channel Infrastructure NZ (-2.3%), Scales Corp. (-2.1%), Infratil Ltd. (-1.7%), and PGG Wrightson (-1.3%). Traders now braced for upcoming PMI figures from China, New Zealand’s top trading partner, for clues on February’s manufacturing and services activity following recent holidays.
