S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketNew Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 13,449 on Monday, giving back last week’s gains, pressured by heavy losses in financials amid expectations of an end to monetary policy easing. Last week, the Reserve Bank cut its cash rate by 25bps to 2.25%, the lowest since June 2022, but projections imply just a 20% chance of another cut next year. Traders are now watching closely as RBNZ Governor Anna Breman appears before Parliament this week for clues on the policy outlook. Westpac Banking dropped 1.8%, with peers ANZ (-0.9%), Precinct Properties (-1.6%), and Property for Industry (-1.2%) also down. Other laggards included Sanford (-4.3%), A2 Milk (-3.1%), Turners Automotive (-2.4%), Contact Energy (-1.9%), and Gentrack (-1.9%). On the data front, October building permits fell, while China’s official PMI showed an eighth month of manufacturing contraction and services activity slipped, potentially weighing on Kiwi exports.
