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Market Chatter: New Zealand Prime Minister Rejects Shift in Nuclear-Free Policy

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New Zealand Prime Minister Christopher Luxon has quashed any speculation regarding a shift in the country's strict anti-nuclear policy.

Speaking Tuesday to Radio New Zealand, Luxon distanced himself from comments made by Defence Minister Chris Penk during a Bloomberg Television interview over the weekend.

During the Bloomberg broadcast at the Shangri-La Dialogue in Singapore, Penk had suggested that Australia's acquisition of nuclear-powered submarines made it "helpful" for New Zealand to have a public conversation differentiating between nuclear weapons and nuclear marine propulsion.

Luxon rejected that premise, emphasizing that the policy remains a core principle for the country and will not change under his leadership.

New Zealand's nuclear-free status was established under a Labour government in 1987.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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