New Zealand Shares Fall Amid Soft China Data, Warehouse Group Names Chief Digital, Transformation Officer

MT Newswires Live
07-31

New Zealand shares fell on Thursday as most Asian indexes were down following weaker-than-expected Chinese manufacturing data.

The S&P/NZX 50 Index fell 0.25% or 32.23 points to close at 12,823.74.

China's manufacturing activity shrank for a fourth straight month in July as the country's purchasing managers' index fell to 49.3 in July versus 49.7 in June, Reuters reported Thursday.

In other news, the US Federal Bureau of Investigation has opened a standalone office in New Zealand's Wellington in part to improve the US and New Zealand's ability to counter China's presence in the Pacific region, according to a Thursday Reuters report.

In domestic news, New Zealand small business sales fell 0.1% year-on-year in the June quarter, despite a 10.9% rise in agricultural sales and aggressive easing by the Reserve Bank of New Zealand from last year, according to a report by Xero.

Also, housing and personal consumer lending in New Zealand grew to NZ$393.68 billion in June from NZ$391.96 billion in May, according to data from the Reserve Bank of New Zealand.

In corporate news, Warehouse Group (NZE:WHS) appointed Shayne Tong to the newly created role of chief digital and transformation officer, effective Aug. 28.

Gentrack Group (ASX:GTK, NZE:GTK) received notice that UBS Group AG and its related entities became the company's substantial shareholder on Monday.

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