The NZX 50 fell 17 points, or 0.13%, to 13,497 on Monday morning deals, snapping a five-session gain amid losses mainly from industrial services and energy minerals. Traders turned cautious ahead of the Reserve Bank of New Zealand’s policy decision later this week. While markets widely expect another rate cut, focus is on the size of the reduction amid weak growth and political pressure, ahead of the new governor taking office in December. The benchmark index also tracked global weakness on concerns over a potential U.S. government shutdown, after White House adviser Kevin Hassett warned that layoffs could begin if negotiations stall. Still, losses were capped after U.S. Treasury Secretary Bessent signaled optimism for a “pretty big breakthrough” in upcoming trade talks between the U.S. and China, New Zealand's largest trading partner. Major laggards included Sky Network TV (-2.1%), Tourism Holdings (-1.8%), Auckland Intl. Airport (-1.4%), and South Port NZ (-1.1%).