26.07.202622:48:52UTC+00New Zealand Stocks Edge Lower to Start the Week

New Zealand shares fell 25 points, or 0.2%, to 13,748 in Monday morning trade, extending the previous session’s losses, with the market dragged lower by financials, utilities, and real estate stocks.

Investors continued to weigh planned US tariffs of 10% to 12.5% on 60 economies, including New Zealand, while persistently elevated oil prices added to inflation worries and reinforced expectations of further interest rate hikes. Sentiment was also cautious ahead of this week’s Federal Reserve policy decision and the release of China’s PMI figures.

On the domestic front, traders looked ahead to July data on New Zealand consumer confidence and business outlook, both due this week. Losses were partly limited by a rise in US stock futures before a series of major technology earnings reports.

Early decliners included Infratil (-1.4%), South Port NZ (-1.2%), Contact Energy (-0.6%), F&C Investment (-0.4%), and Freightways (-0.3%).