New Zealand shares edged lower on Thursday, while most Asian markets were down following Wall Street's Wednesday sell-off.
The S&P/NZX 50 Index fell 0.21% or 28.31 points to close at 13,582.19.
On Wednesday, the S&P 500 fell 0.2%, and the Nasdaq Composite lost 0.7%, dragged down by a sell-off in semiconductor shares as the index for chipmakers, PHLX Semiconductor, fell past 6%.
Meanwhile, the US and Iran wrapped up a round of indirect talks on Wednesday with little sign of progress toward a lasting peace, instead discussing issues they said had already been settled under an interim agreement announced two weeks earlier, according to a Wednesday Reuters report.
In domestic news, New Zealand property values slid in June as Middle East-related tensions spilled over into economic uncertainty, weakening sentiment, Cotality said.
Also, New Zealand's seasonally adjusted new dwellings consents fell 4% to 3,661 in May from 3,814 in the previous month, according to Stats NZ data.
In corporate news, KMD Brands (ASX:KMD, NZE:KMD) said its 25-for-1 share consolidation, which took effect on Wednesday, has now been completed.