New Zealand shares were subdued on Wednesday while Asian shares were mixed as US President Donald Trump's initial policy agenda continued to unfold.
The S&P/NZX 50 Index was little changed at 13,037.14.
Shares in Asia were mixed, with the Shanghai SSE and Hong Kong Hang Seng down 0.8% and 1.3%, respectively, while Japan's Nikkei 225 rose 1.4%.
Investor sentiment turned sour after US President Donald Trump revealed discussions on a 10% tariff on Chinese goods as early as Feb. 1, media outlets reported.
In domestic news, New Zealand's annual inflation was at 2.2% in the December 2024 quarter, unchanged from the prior three-month period, per Stats NZ data. Non-tradable inflation eased to 4.5% from 4.9%.
The housing market value in New Zealand fell in 2024, with the nationwide REINZ House Price Index down 1.1%, according to a Wednesday report from the Real Estate Institute of New Zealand.
In corporate news, Pacific Edge (NZE:PEB, ASX:PEB) reported total laboratory throughput of 7,092 tests for the fiscal third quarter ended December 2024, a 0.7% rise from the prior three-month period. It also revealed plans to seek a preliminary injunction in the US in the wake of Novitas' reimbursement exclusion. Shares were down nearly 5%.
Elsewhere, Chorus (NZE:CNU, ASX:CNU) said total fiber connections rose by about 6,000 lines to nearly 1.1 million connections in the second quarter ended Dec. 31, 2024.
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