FX.co ★ NZX 50 Ends Slightly Lower amid Tight Election Results

The NZX 50 slipped 25 points, or 0.2%, to finish at 13,974 on Monday, extending the previous session’s losses as investors remained cautious amid uncertainty over the general election outcome. Saturday’s vote raised the prospect of a hung Parliament, though the National Party appears best placed to form a coalition with ACT and New Zealand First, even as a narrow opposition victory remains possible. Formal coalition negotiations are not expected to begin until the final results are released on November 27.

Sentiment was partly supported by easing oil prices, which tempered concerns about inflation and further interest rate hikes. Investors were also looking ahead to China’s upcoming trade data and US inflation figures later in the week. A positive lead from Wall Street on Friday, driven by a rebound in technology stocks, helped limit losses on the local market.

Healthcare and technology shares were the main drag on the NZX 50. Notable decliners included ANZ Group (-2.8%), EBOS Group (-2.1%), Chorus (-1.8%), F&C Investment (-1.4%), and Fisher & Paykel (-1.0%).