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New Zealand shares ended lower on Tuesday, while most Asian indexes saw losses after Monday’s Wall Street sell-off.
The S&P/NZX 50 fell 1.06% or 147.05 points to close at 13,683.63.
Overnight, the Nasdaq Composite lost 0.9%, the S&P 500 fell 0.8% while the Dow Jones declined 0.7%.
In domestic news, New Zealand’s Financial Markets Authority said it is extending its no-action approach for entities affected by uncertainty over climate reporting obligations, as amending legislation to change the requirements has yet to pass, according to a statement
The New Zealand Treasury’s economic forecasts at this year’s pre-election economic and fiscal update remain on the “rosy” side, with the eventual fiscal consolidation dependent on that outlook being realized and future governments adhering to the signaled operating and capital allowances for upcoming budgets, ANZ said in a statement.
In corporate news, Tourism Holdings (ASX:THL, NZE:THL) said due diligence on non-binding takeover proposals from a consortium led by BGH Capital and the Trouchet family, as well as Indie Campers, is progressing constructively but has taken longer than expected due to the scale and complexity of its multinational operations.
Templeton Emerging Markets Investment Trust’s (NZE:TEM) unaudited net asset value, including income, was 3.27 billion pounds sterling, or 3.6089 pounds sterling per share, as of Sept. 25.