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New Zealand shares ended lower on Wednesday as most Asian indexes saw a sell-off after Tuesday’s mixed Wall Street close amid the nearing Federal Reserve rate decision.
The S&P/NZX 50 Index fell 0.6% or 83.72 points to close at 13,371.06.
On Tuesday, the Nasdaq Composite rose 0.1% while the S&P 500 finished little changed and the Dow closed lower by 0.3%.
Reserve Bank of New Zealand’s Anna Breman said on Wednesday that there was no preset path for monetary policy and it will be adjusted if the inflation outlook changes, according to a Wednesday Reuters report.
In domestic news, a total of 2,621 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held Tuesday, with supply ranging from 2,400 MT to 2,800 MT, according to data from the trading platform.
Meanwhile, average home values across New Zealand remained flat in the three months to November, indicating a pause in the residential property market and stability, property valuation firm QV said.
Also, the New Zealand light traffic index eased 0.2% in November in seasonally adjusted terms, up 3.3% on the same period last year, according to data from ANZ Research Truckometer.
Further, 75% businesses in Canterbury expect the region’s economy to be stronger in the next 12 months, according to a Business Canterbury report.
In corporate news, a2 Milk Co. (NZE:ATM, ASX:A2M) said Chief Marketing Officer Edith Bailey resigned, effective February 2026.
Downer EDI (ASX:DOW, NZE:DOW) repurchased 116,022 ordinary shares on Tuesday for AU$917,908 in total as part of an on-market buyback.