New Zealand shares rose on Wednesday's close after Trump said he is not considering extending the July 9 deadline for trade deal negotiations.

The S&P/NZX 50 Index gained 0.39% or 49.76 points to close at 12,784.29.

Trump said he does expect a deal with India before the deadline, but it is unlikely that a deal will be reached with Japan, according to a Wednesday Reuters report.

"It's not something you negotiate within a week. I think that's also what the U.S. is realizing now. If the tariffs get ramped up again and the situation sours, short term, we can definitely see some volatility," said Matthias Scheiber, senior portfolio manager and the head of the multi-asset solutions team at Allspring Global Investments, as quoted by Reuters.

In other news, US Senate Republicans managed to pass Trump's tax-and-spending bill by a narrow margin, and the bill now awaits approval at the House of Representatives, according to the same Reuters report.

In domestic news, Barfoot & Thompson's home sales in Auckland reached 876 properties in June, or roughly NZ$990.6 million, down nearly 18% from 1,072 properties sold in the prior month, the real estate agency reported.

Further, the Reserve Bank of New Zealand is expected to keep the official cash rate on hold in July and maintain its easing bias, but offer little guidance on timing for cuts, according to a Westpac report.

Also, New Zealand's Global Dairy Trade Price Index fell 4.1% to $4,274 per metric tonne as of Tuesday, data from the trading platform showed.

In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) said that its unit, Matakanui Gold, entered into a binding agreement to acquire Ardgour Station land for a total of NZ$25 million, which has competing land uses over part of the Bendigo-Ophir gold project in New Zealand.

ikeGPS Group (ASX:IKE, NZE:IKE) said Chief Financial Officer Brian Musfeldt resigned, effective July 15, to pursue another opportunity.