New Zealand Shares End Flat as US Reciprocal Tariff Announcement Nears

MT Newswires Live
04-02

New Zealand shares ended flat on Wednesday with a positive bias as the world awaits the US President's tariff announcements at 9 am Auckland time, Thursday.

The S&P/NZX 50 Index slightly changed to gain 0.1% or 7.59 points to close at 12,320.19.

President Donald Trump's soon-to-be-announced reciprocal tariffs could trigger a global retaliation, a fear that has kept investors on edge.

In the local economy, the number of new dwellings consented in New Zealand rose 0.7% month on month to 2,578 in February, following a 2.6% increase in January, Stats NZ data showed Wednesday.

Meanwhile, New Zealand's Global Dairy Trade Price Index rose 1.1% to $4,250 per metric tonne as of Tuesday, data from the trading platform showed.

Also, the national average asking price in New Zealand declined 2.6% year on year in March, with declines across most regions, according to a Tuesday report by Realestate.co.nz.

In corporate news, ANZ Group's (ASX:ANZ, NZE:ANZ) ANZ New Zealand decreased test interest rates used to test the ability of borrowers to repay if rates rise, reported interest.co.nz.

Turners Automotive Group (NZE:TRA, ASX:TRA) declared a quarterly dividend of NZ$0.07 per share, payable on April 29 to shareholders on record as of April 10, according to a Wednesday filing with the New Zealand bourse.

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