New Zealand shares were subdued Monday as investors opened the week absent any key market-moving data, while Asia-Pacific equities struggled for traction.

The S&P/NZX 50 Index was little changed at 13,072.93.

Non-energy minerals recorded the biggest decline as stocks shed 3.2%, offset by gains in retail trade, finance, and consumer durables.

Asia-Pacific shares fluctuated, with the Shanghai SSE, Hong Kong's Hang Seng, and Australia's ASX 200 all muted in recent trade. Japan's Nikkei 225 lost 1.6%.

Investors continued to assess a host of geopolitical risks in the new year, including the return of US President-elect Donald Trump to the White House on Jan. 20 and media reports on Canadian Prime Minister Justin Trudeau's looming resignation this week.

In domestic news, New Zealand's home values fell further in December 2024, with the national median value down 3.9% year on year to NZ$803,624, CoreLogic reported on Jan. 3. On a monthly basis, home values were down 0.2%.

In corporate news, Infratil (ASX:IFT, NZE:IFT) said that data center CDC, in which it holds a 48.2% stake, has successfully secured over 230 megawatts of new customer contracts, with more than half of these agreements in the form of reservations. The infrastructure investment company's shares were down 1% at market close.

Templeton Emerging Markets Investment Trust (NZE:TEM) purchased for cancellation 250,000 ordinary shares at 1.66 pounds sterling apiece. Its shares fell past 3% Monday.