The New Zealand dollar has risen slightly against most currencies but slipped against its Australian counterpart.
Rankin group director Derek Rankin said the Kiwi rose on the back of a better-than-expected HSBC reading of China's purchasing managers index.
Just after 5pm, the New Zealand dollar was buying 87.31 US cents, 92.47 Australian cents, 51.26 pence, 0.6416 euro, 88.96 yen and 5.44 renminbi.
New Zealand shares fell on Monday, with the NZX Top 50 Index down 19 points to 5126.
Murray & Co wealth management director Johnny Cochrane said HSBC's China's purchasing index reading buoyed Australia stocks but had little impact on the New Zealand market.
"Stronger than expected data out of China today and (a) consequent impact on the Australian dollar," he said.
Kathmandu shares rose 15 cents to $3.56 and Restaurant Brand shares were up at 9 cents to $3.31 but Xero dropped $2.05 to $25.90
"No stock specific news (on Xero). It just looks a little bit like general weakness in the tech sector in New Zealand," Mr Cochrane said.