The NZX 50 edged lower to around 13,220 in Monday’s morning session, reversing notable gains in the prior session as U.S. futures dipped mildly following fresh record highs for the S&P 500 and Dow Jones on Friday.
Sentiment was cautious ahead of China’s monthly review of key lending rates later today, with rates having been held at record lows for three consecutive months in August. At home, data last week showed New Zealand’s economy contracted 0.9% qoq in Q2 2025, far worse than expectations of a 0.2% drop and reversing two quarters of growth after earlier back-to-back contractions.
On a yearly basis, GDP fell 0.6%, defying forecasts of flat growth.
Commercial services, healthcare, and electronic tech led the declines, with notable losses from Eroad Ltd. (-2.1%), Fisher & Paykel Healthcare (-1.6%), Infratil Ltd. (-1.1%), and Winton Land Ltd. (-0.9%).