New Zealand Stocks Hover at 2-Week Low

The NZX 50 fell 24 points or 0.2% to 12,663 in Monday morning trade, marking the fourth session of losses amid declines in industrial services, consumer services, and financial stocks.

The benchmark index hit a two-week low, tracking a weak lead from Wall Street on Friday, as investors grew cautious ahead of the U.S. corporate earnings season, a key inflation report, and President Trump’s threat of new tariffs on over 20 countries, effective August 1.

Sentiment was also weighed by the anticipation of major Chinese economic data this week, notably June trade figures, industrial output, and retail turnover, and Q2 GDP. Still, expectations of a possible rate cut from the Reserve Bank of New Zealand in August helped cap further losses, after the central bank held its official cash rate steady at 3.25% last week.

Among the biggest losers were Sky Network TV (-3.3%), Fletcher Building (-2.0%), Delegat Group (-1.9%), and Briscoe Group (-1.6%).