New Zealand shares ended lower on Monday, signalling risk aversion among investors as they await important US economic data this week, while hopes remain high for an upcoming Federal Reserve rate cut.

The S&P/NZX 50 Index fell 0.3% or 40.66 points to close at 13,448.49.

"Investors are cautious to add risk ahead of upcoming US data and macro events," said Jung In Yun, chief executive officer at Fibonacci Asset Management Global, as quoted by Bloomberg.

In domestic news, over half of New Zealand respondents expect to see further declines in home loan rates in the three months to October, ASB said in its housing confidence survey.

Also, New Zealand's seasonally adjusted new dwellings consents dropped by 0.9% to 3,321 in October is "relatively small" and suggests the residential construction cycle may be turning higher in 2026, according to a report by Westpac.

Meanwhile, New Zealand borrowers' average mortgage rate is expected to fall to 4.5% by mid-2026, as 32% of mortgages are set to reset over the next six months, Westpac said.

Also, New Zealand's seasonally adjusted new dwellings consents fell 0.9% to 3,321 in October from 3,352 in September, according to Stats NZ data.

In corporate news, Synlait Milk (NZE:SML, ASX:SM1) appointed Richard Hickson as chief operating officer, effective February 2026.

Meanwhile, SkyCity Entertainment Group (NZE:SKC, ASX:SKC) confirmed that the New Zealand International Convention Centre (NZICC) will officially open on Feb. 11, 2026.