Utilities shares gained the most on New Zealand's Exchange, rising almost 2% by midday Wednesday.

Shares of Meridian Energy (NZE:MEL, ASX:MEZ) were up past 3% in recent trade.

New Zealand's government assured majority state-owned power companies (NZE:GNE, ASX:GNE), Mercury NZ (NZE:MCY, ASX:MCY), and Meridian Energy (NZE:MEL, ASX:MEZ) that it will provide capital support for strategic and commercially viable investments aimed at strengthening the country's energy security.

Meanwhile, the consumer non-durables sector declined by more than 2%.

Fonterra Co-operative Group (NZE:FCG) was down past 5% in recent trade.

The company on Tuesday reported mixed milk production, exports, and milk collections across key markets for July and August compared with the same period last year.