The NZX 50 was down 23 points, or 0.2%, to close at 13,164 on Monday, marking a third straight decline. Sentiment was rattled by the Middle East conflict, now in its third week with no signs of easing, while oil prices remained elevated above USD 100 per barrel. Vigilance also grew ahead of key domestic data later this week, including New Zealand's February food inflation and Q4 GDP. Adding to concerns, service activity in the country shrank for the first time in three months during February, highlighting lingering fragility in economic growth momentum. Still, losses were offset by a rebound in U.S. futures after Wall Street’s Friday slump. Meanwhile, activity data in China, New Zealand's top trading partner, pointed to solid industrial output, retail sales, and fixed-asset investment in the first two months of 2026. Notable decliners included Hallenstein Glasson Holdings (-2.3%), Tourism Holdings (-2.2%), Sky Network Television (-2.1%), and Fisher & Paykel Healthcare (-2.0%).