Equities in New Zealand dropped 141 points, or 1.0%, to 13,327 in morning trade on Monday, amid renewed US-China trade tensions following US President Trump's threat to impose 100% tariffs on Chinese imports. The NZX 50 fell for the second consecutive session, hitting its lowest level since September 30, as all sectors declined, led by energy (-2.7%). Caution was also building ahead of the release of trade data from New Zealand's top trading partner, China, later today. However, an upbeat session in US futures capped the fall after Trump said trade relations with China “will all be fine.” On the data front, fresh figures showed New Zealand's services sector continued its ongoing contraction for the 19th consecutive month, as sales and new orders declined further. Meanwhile, tourist arrival growth accelerated in August. Among the biggest laggards were Freightways Group (-2.8%), Channel Infrastructure (-2.7%), Kiwi Property (-2.7%), Fletcher Building (-2.4%), and Ebos Group (-1.0%).