New Zealand shares rose on Thursday's close after Wall Street investors gave a guarded response to the US-China trade agreement and remained wary of geopolitical tensions.

The S&P/NZX 50 Index rose 0.34% or 43.17 points to close at 12,649.10.

The benchmark S&P 500 broke its three-session winning streak, closing down 0.3%, while the Nasdaq Composite finished 0.5% lower.

"The US-China deal really just leaves the tariffs in place after they've been cut back following the Geneva meeting, so it doesn't really change things," said Shane Oliver, head of investment strategy and chief economist at AMP Capital, as quoted by Reuters.

Iran Defence Minister Aziz Nasirzadeh said on Wednesday that if nuclear negotiations fail and conflict arises with the US, the country will strike American bases in the region, according to a Wednesday Reuters report.

In domestic news, New Zealand's food and fiber export revenue is projected to rise 12% to a record NZ$59.9 billion in the year ending June 30, driven by strong global demand and a favorable exchange rate, with further growth expected in 2026 as dairy, meat, and horticulture sectors strengthen, the Ministry for Primary Industries said.

Also, New Zealand's electronic card spending rose 0.3% month on month to NZ$9.07 billion in May, following a 0.2% drop in April, Stats NZ data showed Thursday.

In corporate news, Marsden Maritime Holdings (NZE:MMH) has received final High Court approval for a scheme of arrangement under which a consortium comprising Port of Tauranga (NZE:POT), Northland Regional Council, and Ngāpuhi Investment Fund will acquire all MMH shares not already owned by Northland Regional Council for NZ$5.60 per share in cash.

Air New Zealand (ASX:AIZ, NZE:AIR) signed an agreement with Western Sydney International Airport to operate flights between Auckland and Western Sydney from mid-2027.