2026.03.0822:59:14UTC+00New Zealand Shares Under Pressure to Begin the Week

New Zealand shares fell 183 points, or 1.4%, to 13,336 in Monday morning trade, extending sharp losses into a second session as U.S. futures weakened and crude oil briefly topped USD 100 a barrel for the first time since 2022 amid escalating concerns over the Iran conflict. On Sunday, Israel reportedly struck four oil storage facilities in Tehran, while Iranian state television said Mojtaba Khamenei—son of Ayatollah Ali Khamenei, who was killed in a strike last weekend—has been appointed Iran’s new supreme leader.

Sentiment was further pressured by caution ahead of China’s February inflation figures, due later today, and combined January–February trade data expected in the coming days. On the domestic front, investors were awaiting Q4 manufacturing sales, February PMI readings, and January visitor-arrival statistics.

Losses were partially limited by fresh data showing China’s foreign-exchange reserves climbed to a ten-year high in February, while the People’s Bank of China extended its gold-buying streak to a 16th consecutive month. Among notable decliners were Napier Port Holdings (-2.7%), Auckland International Airport (-2.2%), Briscoe Group (-2.1%), and Tourism Holdings (-2.0%).