Shares in New Zealand Finish 0.3% Lower

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.

New Zealand shares edged down 20 points or 0.1% to 13,637 in early deals on Tuesday, marking losses for the second straight session amid weakness in consumer durables, energy minerals, and logistics. A widening conflict across the Middle East weighed on sentiment, with U.S. President Trump vowing 'whatever it takes' on Iran as Israel launched new airstrikes Monday. Caution also lingered 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. Still, declines were capped by local data showing a rebound of 1.9% mom in building permits at the start of the year, after a 4.5% fall in December. Auckland Intl. Airport dropped the most by 2.7%, reflecting the impact of travel disruptions due to the geopolitical tensions. Other laggards were Meridian Energy (-1.8%), Infratil Ltd. (-1.3%), Winton Land (-1.0%), and Property for Industry (-0.8%).

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%).