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New Zealand Shares Fall, Ventia Secures Western Australia Court Security, Custodial Services Contract Extension

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New Zealand shares ended lower on Wednesday while most Asian markets saw gains after Wall Street ended mixed on Tuesday.

The S&P/NZX 50 fell 0.39%, or 53.72 points, to close at 13,821.76.

Overnight, the Nasdaq Composite added 0.5%, the S&P 500 remained unchanged, and the Dow Jones fell 0.4%.

US President Donald Trump warned on Tuesday that he could obliterate Iran if the conflict does not end in a peace deal, while signalling that an agreement could be reached soon as diplomatic efforts intensify at the United Nations, Reuters reported.

In domestic news, a total of 3,551 metric tonnes (MT) of products were sold during the Global Dairy Trade Pulse auction held Tuesday, with supply ranging from 3,175 MT to 3,600 MT, according to data from the trading platform.

In corporate news, Ventia Services Group (NZE:VNT, ASX:VNT) secured a contract extension with the Western Australian government to continue providing court security and custodial services, beginning in March 2027 and continuing through to June 2028.

KMD Brands (ASX:KMD, NZE:KMD) logged NZ$7.492 in loss per share for fiscal 2026, compared with a loss of NZ$1.942 a year ago.

What else is happening in Asia?

Asia

Shenzhen Megmeet Electrical Buys Out 46.3% Stake in Subsidiary

Shenzhen Megmeet Electrical (SHE:002851) will purchase the remaining 46.3% stake it does not own in subsidiary Shenzhen Megmeet Welding Technology for 663.6 million yuan, according to a Wednesday filing with the Shenzhen bourse.Following the sale of the stakes of 46 shareholders, the listed company will fully own the subsidiary.

SHE:002851
Asia

Zhejiang Wanliyang Appoints CFO

Zhejiang Wanliyang (SHE:002434) appointed Shi Yuqiong as chief financial officer after Zhang Leigang resigned from the top financial role due to a change in work responsibilities, according to a Shenzhen bourse filing on Wednesday.Shi's appointment came into effect on Tuesday. The term runs through the end of the current board's tenure.Qian Shouguang was also appointed head of the internal audit department after the previous department head resigned, the filing said.Shares of the Chinese auto transmission systems manufacturer fell over 2% in recent trade.

SHE:002434
Asia

Carimin Petroleum Raises Stake in Sealink International to 25.3%

Carimin Petroleum (KLSE:CARIMIN) acquired a 5.8% stake in Sealink International (KLSE:SEALINK) for 9.9 million ringgit in cash, according to a Tuesday filing with Bursa Malaysia.The acquisition involved 29.1 million shares bought at 0.34 ringgit each, between Sept. 18 and Sept. 22.Following the acquisition, Carimin's stake in Sealink rose to 25.3% from 19.5%, making Sealink an associate company.Carimin Petroleum said the acquisition was part of its ongoing investment strategy.The deal was funded through internally generated funds and does not require shareholder or regulatory approval, the filing said.

KLSE:CARIMINKLSE:SEALINK