FINWIRES · TerminalLIVE
FINWIRES

New Zealand Shares Flat; KMD Brands Secures NZ$11 Million in Retail Entitlement Offer Completion

-- New Zealand shares ended flat on Tuesday despite a broad-based rise in Asian shares as investors showed optimism around the US-Iran peace talks.

The S&P/NZX 50 Index was little changed to close at 12,932.33.

Iran is considering attending peace negotiations with the US in Pakistan, while Islamabad attempts to end a US blockade on Iranian ports, which is seen as a key obstacle to Tehran's participation, before a two-week ceasefire expires, Reuters said in a separate report, citing a senior Iranian official.

Meanwhile, New Zealand Prime Minister Christopher Luxon said on Tuesday he had the backing of National Party lawmakers after holding a leadership confidence vote, following days of speculation that some within the party were pushing to replace him, according to a Tuesday Reuters report.

In domestic news, Business confidence in New Zealand declined in the March quarter, as the US-Israel war with Iran fanned fuel prices and caused supply-chain disruptions amid worsening uncertainty around the Strait of Hormuz, the New Zealand Institute of Economic Research (NZIER) said.

Meanwhile, New Zealand's annual consumer inflation increased by 3.1% in the March quarter, unchanged from the 3.1% increase in the 12 months to the December 2025 quarter, data from Stats NZ showed.

Also, New Zealand consumer prices rose 0.9% in the March quarter, with the annual inflation rate remaining unchanged at 3.1%, resulting in this quarter's inflation going above the previously anticipated 0.7% rise, Westpac said in a report.

In corporate news, KMD Brands (ASX:KMD, NZE:KMD) has completed the retail component of its fully underwritten 1-for-0.73 accelerated renounceable entitlement offer, with eligible shareholders subscribing for around 182.6 million new shares at NZ$0.06 each, raising about NZ$11 million as part of a total NZ$58.5 million capital raising.

Black Pearl Group (ASX:BPG, NZE:BPG) reported fiscal fourth quarter annual recurring revenue (ARR) of NZ$26.8 million, up 114% year on year.

Related Articles

Oil & Energy

EMEA Oil Update: Brent Ease as Trump Extends Ceasefire

Crude futures eased on Wednesday as the US extended its ceasefire with Iran, temporarily stalling a direct military escalation.The Brent futures contract slipped 0.8% to $97.74 per barrel. Murban closed at $96.29 on April 21 and was not trading as of the time of publishing this oil price update.US President Donald Trump said Tuesday that he extended the ceasefire with Iran while maintaining a blockade, as negotiations remain uncertain.Trump said in a Truth Social post, "... upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal."Trump said the US blockade would be maintained, signaling continued pressure, and also indicated that talks remain conditional on Iran presenting a clear negotiating position.While President Trump delayed military action against Iran at Pakistan's request, the continued closure of the Strait of Hormuz is suppressing global demand."The conflict is curbing supply, with demand destruction near 4 million barrels per day and possibly rising to 5 million mainly impacting Asia," Saxo Bank analysts said.On the supply side, data from the American Petroleum Institute revealed Tuesday that US crude oil inventories declined by 4.40 million barrels in the week ended April 17.The oil market now awaits the US Energy Information Administration's petroleum inventory report, scheduled for release on Wednesday.

Asia

Market Chatter: Malaysia Postpones Planned Carbon Tax Amid Middle East Worries

Malaysia has delayed its planned carbon tax implementation, citing ongoing geopolitical tensions in the Middle East, The Star reported Tuesday, citing Natural Resources and Environmental Sustainability Minister, Arthur Joseph Kurup.The tax, which was previously expected to start this year for sectors such as iron, steel and energy, has been deferred to avoid adding pressure on industries and consumers. Kurup said the government will instead prioritize setting up a carbon credit framework, including verification systems and a national carbon registry, reportedly.The National Carbon Market Policy (DPKK), approved on April 1, will serve as the basis for Malaysia's participation in both voluntary and compliance carbon trading markets. He added that Malaysia remains committed to emissions reduction targets for 2035 and its net-zero goal by 2050, while continuing to push the green transition, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^KLSE
Asia

Japan Equities Advance on Stronger Outlook, Export Growth

Japanese equities closed higher on Wednesday, with the Nikkei 225 gaining after J.P. Morgan raised its year-end target for the benchmark to 70,000 from 61,000, citing momentum in AI and a weaker yen.On Wednesday, the Nikkei 225 rose 0.4%, or 236.69 points, to close at 59,585.86.Analysts at J.P. Morgan said concerns about overheating in the Nikkei 225 outweigh improving long-term growth prospects for Japanese equities, even as crude prices stay elevated.The benchmark index climbed to a record on Wednesday, nearing the 60,000 mark, as it recovered from a broad global selloff linked to tensions in the Middle East.In economic news, Japan's trade surplus widened to 667 billion yen in March as exports grew faster than imports, with shipments to China and the U.S. offsetting a sharp slump in Middle East trade amid the Iran conflict, data from the Ministry of Finance Japan showed.The Bank of Japan said the financial system remains stable but flagged rising risks from geopolitical tensions, higher oil costs, and exposures to real estate, foreign funds and leveraged market activity.On the corporate front, Mitsubishi UFJ Financial (TYO:8306) fell over 1% after a report said it is considering offering higher deposit rates for a planned digital bank to compete on speed and cost.Tokyo Electric Power (TYO:9501) rose about 4% after securing 4.7 billion yen in fresh grants to support ongoing nuclear compensation payouts.Advantest Corporation (TYO:6857) gained around 3% after joining Applied Materials' EPIC platform and opening a Silicon Valley research center to advance chip development.

$^N225$TYO:6857$TYO:8306$TYO:9501