New Zealand shares closed flat with a negative bias on Wednesday as markets weighed in on continued uncertainty around a US-Iran peace deal.
The S&P/NZX 50 Index was little changed to close at 13,610.50.
Iran said on Tuesday it would not meet top U.S. envoys who traveled to the region after hostilities broke out, dimming prospects for a lasting peace between the two countries, according to a Tuesday Reuters report.
In domestic news, the national average asking price in New Zealand's property market held steady at NZ$866,314 in June, with new listings rising 4.3% year over year to 7,942 during the month, according to a report from realestate.co.nz.
Also, the Reserve Bank of New Zealand (RBNZ) is likely to focus on risk management given current uncertainty, which should push it to raise the official cash rate by 25 basis points to 2.5% at a policy meeting next week, ANZ said.
Further, the data suggests credit conditions are improving in New Zealand for many households and businesses, but confidence remains measured, and pockets of financial strain are still evident, Centrix said in its June Credit Indicator report.
In corporate news, Bremworth (NZE:BRW) said the New Zealand Commerce Commission has granted clearance for Floorscape to acquire all of its shares under a scheme of arrangement.
Spark New Zealand (ASX:SPK, NZE:SPK) said the New Zealand Government's proposed changes to its policy approach for the renewal of spectrum in the 2300MHz and 2600MHz bands are not expected to have a "material" direct operations impact.