New Zealand shares ended lower on Tuesday as most Asian markets saw losses after fresh hostilities between the US and Iran dimmed hopes of a peace deal.
The S&P/NZX 50 Index fell 0.52% or 71.98 points to close at 13,651.22.
On Monday, the Nasdaq fell 1.6%, the S&P 500 lost 0.8%, and the Dow Jones dropped 0.3%
US President Donald Trump reinstated a blockade of Iranian shipping and proposed a 20% fee for vessels using the Strait of Hormuz on Monday, as US forces launched strikes on Iran for the third night running, according to a Tuesday Reuters report.
In domestic news, New Zealand recorded a recovery in business confidence in the June quarter, with a net 12% of firms forecasting better general economic conditions over the coming months on a seasonally adjusted basis, the New Zealand Institute of Economic Research (NZIER) said.
Also, while near-term inflation pressures in New Zealand appear to have eased, renewed tensions in the Middle East over the last week present upside risks to the central bank's 3.3% inflation forecast for the September quarter, Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said.
In corporate news, Skellerup Holdings (NZE:SKL) increased its fiscal 2026 net profit after tax guidance to between NZ$64 million and NZ$65 million from a previous range of NZ$57 million to NZ$62 million.
Ryman Healthcare (ASX:RYM, NZE:RYM) reported 325 sales of retirement living occupation right agreements for the June quarter, including 265 resales and 60 new sales.