New Zealand Shares Fall as Investors Shrug Off Asian Gains on Beijing's Stimulus Signal

MT Newswires Live12-10

New Zealand shares fell Tuesday even as Asian peers advanced on the heels of the latest pronouncements from China that are widely interpreted as further stimulus measures in 2025.

The S&P/NZX 50 Index lost 0.6%, or 78.43 points, to close at 12,723.37.

Transportation and finance stocks led the decline as the segments lost 1.7% and 1.6%.

China's Politburo pledged to adopt a "moderately loose" monetary policy next year and a "more proactive" fiscal policy, signaling further rate cuts and a shift from Beijing's prudent strategy, Bloomberg News reported.

Asian shares were mostly higher on the news, with Shanghai's SSE and Hong Kong's Hang Seng up 1.6% and 1%, respectively. Japan's Nikkei 225 gained 0.4%.

In corporate news, Templeton Emerging Markets Investment Trust (NZE:TEM) reported total earnings of 0.1217 pound sterling per share for the six months to Sept. 30, compared with a loss of 0.0103 pound sterling per share in the year-earlier period.

Santana Minerals (NZE:SMI, ASX:SMI) gained 1% after it identified a hyper-concentrated mineral zone at the Come-in-Time deposit within the Bendigo-Ophir gold project in New Zealand.

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