New Zealand Stocks Open Week in the Red

New Zealand shares dropped 34 points or 0.3% to 12,519 in early Monday trading, marking the second straight session of losses as healthcare, transport, and consumer non-durables weakened.

Market sentiment remained increasingly cautious following a sell-off on Wall Street Friday, amid escalating tensions between Israel and Iran, which fueled concerns over global economic stability.

Traders also awaited key Chinese data due later today, including industrial output, retail sales, and the surveyed jobless rate.

In New Zealand, several key economic reports will be released this week, particularly May food inflation, first-quarter GDP, and the current account balance.

Still, further declines were limited by indications that U.S. President Trump may extend the July 8 deadline for trade negotiations before implementing higher tariffs.

Among early decliners, Sky Network TV fell 1.8%, A2 Milk Co. dropped 1.6%, and Fisher & Paykel Healthcare slid 1.3%.