New Zealand shares rose on Wednesday's close as the markets welcomed positive results from the latest US-China trade negotiations.
The S&P/NZX 50 Index rose 0.33% or 41.51 points to close at 12,605.93.
US Commerce Secretary Howard Lutnick said on Wednesday that a trade framework and implementation plan have been reached with China, which should result in restrictions on rare earths and magnets being resolved, according to a Wednesday Reuters report.
"This is positive news to the market. At least now there's a bottom line that neither side is willing to cross. Going forward, both sides will move toward reducing the trade imbalance," said Mark Dong, co-founder of Minority Asset Management, as quoted by Reuters in a separate report.
New Zealand central bank's ex-governor Adrian Orr's sudden resignation in March was due to his disagreements with the treasury ministry over proposed cuts to the bank's operating budget, Reuters reported Wednesday, citing official documents.
In corporate news, Gentrack Group (ASX:GTK) will be added to the S&P/NZX 20 Index, following the June quarterly review by S&P Dow Jones Indices, effective before market open on June 23.
Napier Port Holdings (NZE:NPH) repurchased 29,208 ordinary shares for NZ$3.1986 apiece on Tuesday under an on-market buyback program.
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