The new highs that markets across New Zealand had managed to touch took another downfall as all major stocks began the week in negative territory; mainly on the back of a weak performance recorded by the US market on Friday. The downfall in market-values has come in a week when the country is expecting the release of some important data.

The country's benchmark NZSX-50 index closed after losing 10.848 points, or 0.333%, at 3247.104. The index had opened at a loss of 9.11 points. Among the 120 stocks that were traded, there were a total of 36 rises and 39 declines.

On Friday, stocks across all major US markets had managed to decline, on the back of a major fourth quarter loss report by JPMorgan Chase & Co. Even on Monday, markets across the country are closed for the Martin Luther King holiday.

In the NZ market, insurer and investment manager Tower took the biggest fall. The stock declined by 10 cents or 4.6%, to trade at a new low of 206.

Other major decline facing stocks were Contact Energy and Port of Tauranga, which fell by 8 cents and 5 cents, respectively.