17.05.202622:54:42UTC+00NZX 50 Falls to Near 3-Week Low

The NZX 50 fell 75 points, or 0.6%, to 12,890 in Monday morning trade, extending its losing streak to a fifth straight session and reaching its lowest level since April 29. The decline followed weakness in U.S. futures amid a renewed escalation in US–Iran tensions.

Sentiment was further pressured by fresh data showing continued private-sector contraction. The services sector shrank for a third consecutive month, albeit at a slower pace, while manufacturing expanded at its weakest rate in seven months. Caution also prevailed ahead of a raft of Chinese economic releases and the PBOC’s interest rate decision due later this week.

Losses were broad-based, with healthcare, financials, industrials, and utilities dragging on the index. Notable decliners included Ryman Healthcare (-2.4%), Freightways Group (-1.6%), Fisher & Paykel Healthcare (-1.4%), Summerset Group (-1.0%), Infratil (-0.9%), and Auckland International Airport (-0.6%).