New Zealand Shares Rebound

New Zealand stocks climbed 173 points, or 1.3%, to 13,271 in Tuesday morning trade, snapping a two-day slide after a late comeback on Wall Street Monday amid easing geopolitical concerns, as U.S. President Donald Trump suggested the U.S.-Israeli war on Iran may be nearing an end. Bargain hunting also lifted sentiment after domestic markets hit a two-week low a day before amid surging oil prices and inflation fears. In China, annual inflation reached a three-year high in February while producer prices declined at a slower pace. Gains were led by manufacturing, healthcare, and utilities, though weakness in tech and logistics capped upside. Notable movers included Scott Technology (3.5%), EBOS Group (2.7%), Infratil (2.4%), and Ryman Healthcare (2.2%). Investors now await China’s combined January–February trade data later today, alongside local releases this week including Q4 manufacturing sales, February PMIs, and January visitor arrivals.

The NZX 50 tumbled 420 points, or 3.1%, to close at 13,099 on Monday, extending losses in the prior session and marking an over two-week low. The slump tracked a sharp sell-off in U.S. futures as oil prices spiked to over $120 per barrel for the first time since 2022 amid the escalating Middle East conflict, stoking fears of supply disruptions and renewed inflation. Over the weekend, the U.S. and Israel launched fresh airstrikes across Iran, while Tehran named Mojtaba Khamenei as Supreme Leader. Traders largely shrugged off data from trading partner China showing February inflation hit a 3-year high, and producer deflation eased. Losses were broad-based, ahead of domestic data including Q4 manufacturing sales, February PMIs, and January visitor arrivals this week. Tourism and airline stocks were hit, with Tourism Holdings. down 5.5% and Auckland Intl. Airport off 4.7%. Other laggards included Scott Tech. (-6.8%), Gentrack Group (-5.0%), and Fisher & Paykel Healthcare (-4.8%).

New Zealand shares dropped 183 points, or 1.4%, to 13,336 in Monday morning trade, marking sharp losses for a second session as U.S. futures slumped and crude surged past USD 100 a barrel for the first time since 2022 amid mounting concerns over the Iran conflict. On Sunday, Israel struck four oil storage sites in Tehran, while Iranian state TV said Mojtaba Khamenei, son of Ayatollah Ali Khamenei, killed in a strike last weekend, has been named Iran’s new supreme leader. Caution also grew ahead of China’s February inflation data later today and January–February trade figures in coming days. Locally, investors awaited Q4 manufacturing sales, February PMIs, and January visitor arrivals. Losses were capped by new data showing China’s foreign reserves hit a decade-high in February, while the central bank extended its gold-buying streak to a 16th month. Notable laggards included Napier Port Hlds. (-2.7%), Auckland Intl. Airport (-2.2%), Briscoe Group (-2.1%), and Tourism Holdings (-2.0%).