New Zealand shares advanced Friday in lockstep with Wall Street as investors weighed the latest development in the US' crackdown on what it calls unfair trade practices by other nations.

The S&P/NZX 50 Index was up 0.6%, or 83.20 points, to close at 12,989.18.

The benchmark index has risen 0.9% over the last five trading days.

Nearly all sectors recorded an increase Friday, with electronic technology and non-energy minerals taking the lead. Commercial services shares slipped 0.2%.

Shares in Asia were mixed, with Hong Kong's Hang Seng rallying 2.2%, the Shanghai SSE advancing 0.3%, and Japan's Nikkei 225 down 0.5%.

Overnight, the Nasdaq Composite increased 1.5%, the S&P 500 rose 1%, and the Dow Jones Industrial Average was up 0.8%.

US President Donald Trump signed a memorandum ordering the development of a "Fair and Reciprocal Plan" to tackle "unfair trade practices."

In domestic news, the BusinessNZ Performance of Manufacturing Index rose to 51.4 in January from 46.2 in the prior month, marking its highest level since September 2022 and the first expansion in 23 months.

Food prices in New Zealand rose 1.9% month on month in January, a leap from the 0.1% uptick in December 2024 to mark the highest increase since July 2022, Stats NZ data showed Friday.

In corporate news, Manawa Energy (NZE:MNW) said the High Court ordered the company to dispense with formal service the amended application for its scheme of arrangement with Contact Energy (ASX:CEN, NZE:CEN). Manawa's shares finished almost 2% lower.

SKY Network Television (ASX:SKT, NZE:SKT) rose past 1% after it moved the expected completion of its satellite migration to April from May.