New Zealand shares extended their muted session on Wednesday even as the Reserve Bank delivered a widely expected rate cut and as investors digested a string of corporate earnings reports.

The S&P/NZX 50 Index was little changed at 13,033.36.

Non-energy minerals led the stocks that rose, while miscellaneous equities were the biggest losers.

Asia-Pacific shares were mixed, with the Shanghai SSE up 0.5%, while the Nikkei 225 and Hang Seng lost 0.5% and 0.3%, respectively.

Overnight, the S&P 500 rose 0.2% to close at an all-time high, while the Nasdaq Composite and the Dow Jones Industrial Average were little changed.

In domestic news, the Reserve Bank of New Zealand lowered the official cash rate by 50 basis points to 3.75%, marking its fourth straight rate cut. In announcing the widely expected move, the bank said it has scope to lower the rate further through 2025 "if economic conditions continue to evolve as projected."

In corporate news, Fletcher Building (NZE:FBU, ASX:FBU) climbed 5% after it reported Wednesday that its loss per diluted share in the fiscal first half slightly narrowed to NZ$0.143 from NZ$0.147 a year earlier.

EBOS Group (NZE:EBO, ASX:EBO) lost 5% after it reported fiscal half-year diluted earnings of AU$0.569 per share, down from AU$0.71 per share a year earlier.

Ventia Services Group (NZE:VNT, ASX:VNT) said its earnings per diluted share for 2024 rose to AU$0.2548, from AU$0.2201 per diluted share a year earlier.