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New Zealand Shares Flat, Fonterra Co-operative Group Fiscal 2026 Underlying Earnings, Revenue Up

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New Zealand shares ended flat on Thursday while most Asian markets saw losses after Wall Street's Wednesday sell-off.

The S&P/NZX 50 was little changed to close at 13,824.83.

Overnight, the Nasdaq Composite fell 1.1%, the S&P 500 lost 0.8%, and the Dow Jones declined 0.7%.

In domestic news, total new residential mortgage lending in New Zealand fell to NZ$7.19 billion in August from NZ$7.85 billion in July, according to data from the Reserve Bank of New Zealand.

Also, New Zealand property sales fell nearly 12% year on year in August to 6,175 deals, marking an eighth straight monthly fall, with recent official cash rate and mortgage rate lifts creating fresh challenges for a housing market already struggling to build momentum, according to a report by Cotality.

In corporate news, Fonterra Co-operative Group (NZE:FCG) logged NZ$0.71 in underlying earnings per share for fiscal 2026, compared with NZ$0.54 a year ago.

Westpac Banking (ASX:WBC) is set to reduce its Flat Transaction Rate for eligible new and existing customers to 0.79% from Oct. 1, which it said will be the lowest in the market among major banks and merchant acquirers.

What else is happening in Asia?

Asia

Beijing Compass Technology Development Seeks Up to 500 Million Yuan in Bank Credit Lines

The board of Beijing Compass Technology Development (SHE:300803) approved applications for comprehensive credit lines from three banks to fund working capital loans and related business needs, according to a Wednesday aftermarket filing with the Shenzhen bourse.The company will seek up to 250 million yuan from Agricultural Bank of China with a one-year term, up to 150 million yuan from Xiamen International Bank with a three-year term, and up to 100 million yuan from Industrial Bank with a one-year term.Shares of the investment software developer were down 2% in recent trade.

SHE:300803
Asia

Liquidators Issue Final Notice to Creditors for ST Group Units' Dissolution

ST Group Food (SGX:DRX) said liquidators have issued their final notice and report to the creditors for the liquidation of GCTea 2B and GCTea 2A, according to a Wednesday filing to the Singapore stock exchange.The liquidators also plan to file the 'Notice of Final Account' before the dissolution.Last year, the company decided to liquidate GCTea 2B and GCTea 2A as part of its strategic plans to exit from the Gong Cha Brand in the United Kingdom.

SGX:DRX
Asia

South Korean President, Trump Discuss Warships Construction

South Korean President Lee Jae Myung and U.S. President Donald Trump met on Tuesday on the sidelines of the UN General Assembly to discuss defense and industrial collaboration, including naval shipbuilding.Lee said he expects tangible results from the bilateral partnership, highlighting South Korea's growth strategy in semiconductors, artificial intelligence, and the "7 SEED" initiative targeting small modular reactors, nuclear fusion, and renewables, according to a press release from the South Korean president's office on Wednesday.

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