New Zealand shares closed lower on Monday while all Asian markets saw losses ahead of upcoming discussions between Iran and the US.
The S&P/NZX 50 Index fell 1.4% or 186.5 points to close at 12,748.92.
Pakistan said on Sunday it was preparing to host “meaningful talks” in the coming days to help end the Iran conflict, even as Tehran warned it is ready to retaliate if the US deploys ground troops, according to a Sunday Reuters report.
US President Donald Trump said US has been engaging both directly and indirectly with Iran, describing Iran’s new leadership as “very reasonable,” even as additional US troops arrived in the region and Tehran warned it would not accept humiliation, according to a Monday Reuters report.
In domestic news, the total business count across New Zealand rose to 599,625 in February from 596,955 in January, according to data from Stats NZ.
Also, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in February, following a 0.04% decrease in the previous month, data from Stats NZ showed.
Meanwhile, New Zealand’s construction cost increases remain modest overall, but rising diesel prices are driving higher expenses in fuel-intensive building activities, Quotable Value said in a report.
In corporate news, NZX (NZE:NZX) will launch the S&P/NZX 20 Index Futures, exchange-traded contracts that lock in a price for exposure to the S&P/NZX 20 Index, with settlement on a set date in the future, on April 28.
Genesis Energy (NZE:GNE, ASX:GNE) said that Chief Financial Officer Julie Amey resigned, effective April 10.