New Zealand shares opened the week on an upbeat note as shares rose on Monday amid market expectations for further policy easing by the Reserve Bank of New Zealand.

The S&P/NZX 50 Index was up 1.18%, or 154.18 points, to close at 13,196.08.

Markets' focus now shifted to the Reserve Bank of New Zealand, which is expected to ease its policy further at a meeting on Wednesday. ANZ Research anticipates that the Reserve Bank will slash the official cash rate by 50 basis points to 4.25%.

In macroeconomic news, the total volume of retail sales in New Zealand fell 0.1% to NZ$24.5 billion in the September quarter compared with the prior three-month period, Stats NZ data showed.

In ANZ Research's assessment, this signals that the downward trend in retail spending is "finally arresting," with the third quarter likely to mark the bottom of the cycle.

Elsewhere, New Zealand's goods deficit narrowed to NZ$1.54 billion in October from NZ$2.15 billion in September, Stats NZ reported.

In corporate news, Turners Automotive Group (NZE:TRA, ASX:TRA) climbed 7% after it reported earnings per share of NZ$0.2172 for the first half of fiscal 2025, up from NZ$0.2124 in the year-ago period.

Kiwi Property Group (NZE:KPG) reported adjusted funds from operations (AFFO) of NZ$48.4 million, or NZ$0.0305 per share, for the six months ended Sept. 30, compared with NZ$48.6 million, or NZ$0.0308 per share, in the year-earlier period. It also disclosed plans to offer 5.5-year fixed-rate senior secured green bonds to institutional and New Zealand retail investors. The property company ended Monday's trade up 4%.

Channel Infrastructure (NZE:CHI) is raising NZ$50 million via an entitlement offer to fund the development of a bitumen import terminal at Marsden Point for Fletcher Building (NZE:FBU, ASX:FBU) subsidiary, Higgins.