New Zealand's benchmark S&P/NZX 50 index grew 0.3% to 13,080 on Monday, rising for a fourth consecutive session and closing near an eight-month high. The advance reflected improved risk sentiment after Federal Reserve Chair Powell highlighted rising downside risks to the US labor market, leaving the door open for future rate cuts. Domestically, Prime Minister Christopher Luxon criticized the Reserve Bank for not cutting rates aggressively enough to stimulate growth, following last week’s 25bps reduction to the key rate. Retail sales rose 0.5% quarter-on-quarter in the three months to June, slowing from a 0.8% gain in Q1 but surpassing forecasts of 0.2%, suggesting that lower interest rates are beginning to support activity. Across the bourse, communications, technology, and non-energy mineral sectors led gains, with notable performances from Chorus (+2.3%), Gentrack (+3.7%), Eroad (+4.3%), Fletcher (+1.3%), and Santana (+2.3%).