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New Zealand Shares Fall; Port of Tauranga Secures Passage Development Fast-Track Approval

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New Zealand shares slide on Monday amid concerns over global oil supplies as tensions rose around the Strait of Hormuz.

The S&P/NZX 50 Index slid 0.22% or 31.35 points to close at 13,942.83.

Brent crude oil futures rose to trade around $96 per barrel after the US and Iran traded attacks in the Middle East.

Strong US jobs data spurred expectations of an imminent Federal Reserve rate hike.

In domestic news, New Zealand's housing market continues to favor buyers, with residential property values decreasing by 1.9% nationally over the three months to the end of August, marking the largest quarterly decline in two years, according to the QV House Price Index.

In corporate news, Port of Tauranga (NZE:POT) secured fast-track approval for the Stella Passage Development, according to a joint statement released by New Zealand Infrastructure Minister Chris Bishop and Regional Development Minister Shane Jones.

Auckland International Airport (ASX:AIA, NZE:AIA) said it plans for international travelers to move through security screening before passport control within a new integrated departures terminal.

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