New Zealand shares saw another session of losses on Friday, along with other Asian indexes, as markets continued to digest an uncertain global outlook because of US tariffs.
The S&P/NZX 50 Index fell 0.2% or 18.33 points to close at 12,287.46.
US President Donald Trump announced plans to impose a 25% tariff on all foreign-made vehicles and auto parts, a move that has led companies like Volvo and Hyundai to relocate some of their production to the US.
Meanwhile, continued global business outlook fears sent gold to yet another record high.
On the local front, New Zealand’s consumer confidence fell in March, with declines across nearly all components, according to a survey by ANZ Research and Roy Morgan Research released Friday.
Also, the number of enterprise entries in New Zealand rose to 4,167 in February, compared with 3,084 in January, Stats NZ data showed Friday.
New Zealand’s seasonally adjusted filled jobs across all industries were flat at nearly 2.4 million in February, following a 0.1% uptick in the prior month, Stats NZ data showed Friday.
In corporate news, Hallenstein Glasson Holdings HLG reported Friday fiscal half-year earnings of NZ$0.355 per diluted share, unchanged from the year-earlier period. The company’s shares edged up at market close.
Sky Network Television SKT secured an eight-year exclusive broadcast right to air Six Nations and Gallagher Premiership Rugby in New Zealand. The company’s Kiwi shares finished modestly higher.