FINWIRES · TerminalLIVE
FINWIRES

New Zealand Shares Rise, Santana Minerals to Join VanEck Junior Gold Miners ETF

By

New Zealand shares ended higher on Thursday as most Asian markets showed gains after the US Federal Reserve delivered its first rate hike in more than three years.

The S&P/NZX 50 rose 0.98% or 133.87 points to close at 13,756.59.

Overnight, the S&P 500 fell 0.5%, the Dow Jones lost 1.2%, and the Nasdaq Composite was little changed.

The US Federal Reserve raised its benchmark lending rate by 25 basis points in a unanimous vote on Wednesday to combat sticky inflation, while signaling that another hike may come later in the year.

In domestic news, New Zealand's economy expanded 0.2% in the June quarter, following a 0.9% expansion in the previous quarter, Stats NZ data showed.

Also, New Zealand job ads rose 0.6% month on month in August and are 9.7% higher year on year, with applications per job ad rising 0.9% month on month despite the increase in available opportunities, according to a report by Seek.

In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) is set to be included in the VanEck Junior Gold Miners ETF, effective at the close of trading on Friday, as part of VanEck's semi-annual index review and rebalance.

The Bankers Investment Trust's (NZE:BIT) unaudited net asset value was 1.584 pounds sterling per share as of Tuesday.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(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.)

TPE:2610
Asia

China Petrochemical Unit Wins Court Ruling Revoking Land Seizure

China Petrochemical Development (TPE:1314) unit Core Pacific Development won a ruling from the Taiwan High Court, that revoked a criminal seizure order on a plot of land in Taipei, Taiwan.The land had been subject to four seizure rulings issued by the Taipei District Court at the request of the Taipei District Prosecutors Office.The company said the matter has no financial or business impact.

TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

Lotus Pharmaceutical's (TPE:1795) subsidiary, Lotus International, will reduce its capital by $70 million, according to a Wednesday filing with the Taiwan Exchange.The reduction involves the cancellation of 70 million shares as part of the group's capital utilization plan.Following the reduction, Lotus International's share capital will stand at $16.1 million.

TPE:1795