The NZX 50 plunged 186 points, or 1.4%, to end at 12,749 on Monday, continuing prior-session losses as weakness spread across most sectors, notably healthcare, non-energy minerals, logistics, consumer durables, and financials. Risk aversion intensified as the U.S.-Israeli war on Iran entered its fifth week, widening across the Middle East and fueling concerns over inflationary pressures and the prospect of a global recession. Caution also mounted ahead of New Zealand’s March business sentiment data due Tuesday, after February hit a four-month low. In the main trading partner China, March PMI readings loom amid persistent demand concerns. Meanwhile, Australia’s inflation risks intensify on LNG supply issues in the northwest and transport-sector price hikes. Leading decliners in local markets included Fletcher Building (-5.1%), Ryman Healthcare (-4.2%), Napier Port Holdings (-3.4%), Summerset Group (-3.2%), and Delegat Group (-3.0%).
