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Asia

New Zealand Shares Rise; Air New Zealand Group Capacity Rises in June

New Zealand shares ended higher on Tuesday as most Asian markets saw gains following a Monday rally in Wall Street shares.The S&P/NZX 50 Index rose 0.93% or 128.53 points to close at 13,903.46.On Monday, the Nasdaq Composite gained 2.1%, the S&P 500 added 1.5% while the Dow Jones increased by 1.3%."Risk markets have clearly turned a corner. If the constructive tone from European and U.S. equity markets carries through, buyers ​should emerge early in the session and provide support for regional risk assets," said Chris Weston, head of research at Pepperstone ​Group in Melbourne, as quoted by Reuters.On the domestic front, data shows consumer credit performance in New Zealand is continuing to improve, with consumer arrears falling to their lowest level since 2021 in June and residential mortgage arrears reaching their lowest point since December 2022, Centrix said in the July Credit Indicator report.Also, ANZ overall card spending showed a 0.5% lift in July in New Zealand, on a seasonally adjusted basis, with annual growth lifting to 6.1% from 5.8%, according to a report from the bank.In corporate news, Air New Zealand (ASX:AIZ, NZE:AIR) group capacity rose 1.3% year on year in June.

^NZ50ASX:AIZASX:WBCNZE:AIRNZE:WBC
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Tuesday.Gentrack Group (NZE:GTK): +3%, NZ$3.80Scales Corporation (NZE:SCL): +3%, NZ$6.75Ventia Services Group (NZE:VNT): +3%, NZ$7.16Westpac Banking Corp (NZE:WBC): +3%, NZ$46.61Briscoe Group (NZE:BGP): +3%, NZ$4.79Vista Group International (NZE:VGL): +3%, NZ$2.58Santana Minerals (NZE:SMI): +3%, NZ$0.60CDL Investments New Zealand (NZE:CDI): +2%, NZ$0.66Oceania Healthcare (NZE:OCA): +2%, NZ$0.77Pacific Edge (NZE:PEB): +2%, NZ$0.27

^NZ50NZE:BGPNZE:CDINZE:GTKNZE:OCANZE:PEBNZE:SCLNZE:SMINZE:VGLNZE:VNTNZE:WBC
Asia

Westpac Banking to Launch Pilot Community Banking Service in Three Victorian Towns

Westpac Banking (ASX:WBC, NZE:WBC) is set to launch a pilot community banking service program in the regional Victorian towns of Woodend, St Arnaud, and Wedderburn in August, according to a Tuesday statement.As part of the service, Westpac bankers will visit participating towns fortnightly to provide customers with in-person support and expertise."This expansion means the service will now be operating in 14 regional towns across three [Australian] states," said Carolyn McCann, CEO of the bank's consumer division.

ASX:WBCNZE:WBC
Asia

Australian Shares Up; FleetPartners Group Receives Non-Binding, Conditional Offer From SG Fleet

Australian shares rose on Monday, as investors reacted to optimism regarding the potential resolution of the conflict in the Middle East.The S&P/ASX 200 Index gained 0.47%, or 42.50 points, to close at 9,019.30.Brent crude oil futures fell to trade around $83 per barrel. Earlier, US President Donald Trump had said he cancelled strikes on Iran after Iran and other Middle Eastern countries had asked for time to complete a peace deal.On Friday, the Nasdaq Composite rallied 1% on the back of strong earnings from tech giants, while the S&P 500 and the Dow Jones Industrial Average rose 0.7% and 0.5%, respectively.On the domestic front, Australia's home value index declined 0.7% in July, representing the largest drop since December 2022, as the country's housing market downturn expanded to hit more regions, Cotality said.The Australian manufacturing sector recorded modest returns to growth in July, with production and new orders increasing for the first time in six months and employment rising at the sharpest rate since January. The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Managers' Index rose to 52 in July from 51.5 in June.In company news, FleetPartners Group (ASX:FPR) received an unsolicited, indicative, non-binding, and conditional offer from SG Fleet Topco to acquire all of the outstanding shares in the company through a scheme of arrangement at AU$3.60 apiece. The company's shares earlier rose over 16% to their highest since August 2024.Westpac Banking (ASX:WBC, NZE:WBC) completed the sale of the RAMS home loan portfolio, around AU$15.4 billion at completion, to a consortium consisting of Pepper Money (ASX:PPM), credit funds and accounts managed by KKR, and PIMCO managed funds.Lastly, Steadfast Group (ASX:SDF) said a consortium comprised of Amwins Group, Dragoneer Investment Group, and KKR reconfirmed its intention to proceed with a proposal to acquire the company at AU$6 per share in cash.

ASX 200ASX:FPRASX:SDFASX:WBCNZE:WBC
Asia

New Zealand Shares Rise; Briscoe Group's Fiscal Q2 Sales Increase

New Zealand shares ended higher on Monday amid hopes of renewed peace talks between the US and Iran.The S&P/NZX 50 Index rose 0.55% or 75.65 points to close at 13,774.93.US President Donald Trump said talks with Iran would take place on Monday but declined to set a deadline for a deal, after pulling back from an imminent military strike in hopes of quickly reaching an agreement to reopen the Strait of Hormuz and resolve the standoff over Tehran's nuclear program, according to a Monday Reuters report.On the domestic front, the volume of new homes consented in New Zealand hit 40,581 in the year ended June, up 19% from the previous year and exceeding the 40,000 mark for the first time since 2023, according to data by Stats NZ.Further, New Zealand's home value index fell 0.3% in July following a decline of the same magnitude in the previous month, continuing a subdued trend observed during the first six months of the year, Cotality said in an Aug. 1 report.Also, a drop in diesel prices helped keep construction cost growth in check in New Zealand in July, QV said in a report.In corporate news, Briscoe Group (ASX:BGP, NZE:BGP) reported fiscal second-quarter sales of NZ$193.4 million, up slightly from NZ$192.9 million a year earlier and representing a third consecutive quarter of positive sales growth.Westpac Banking (ASX:WBC, NZE:WBC) completed the sale of the RAMS home loan portfolio, around AU$15.4 billion at completion, to a consortium consisting of Pepper Money (ASX:PPM), credit funds and accounts managed by KKR, and PIMCO managed funds.

^NZ50ASX:BGPASX:PPMASX:WBCNZE:BGPNZE:WBC
Asia

NZX Midday Sector Update: Consumer Durables Sector Soars, Finance Sector Struggles

Consumer durables shares gained the most on New Zealand's Exchange, rising nearly 4% on Monday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose past 3% in recent trade.Meanwhile, shares of the finance sector fell 1%.Westpac Banking's (NZE:WBC, ASX:WBC)shares fell more than 1% in recent trade.

^NZ50ASX:KMDASX:WBCNZE:KMDNZE:WBC
Asia

Westpac Completes Sale of Home Loan Portfolio to Consortium Including Pepper Money

Westpac Banking (ASX:WBC, NZE:WBC) completed the sale of the RAMS home loan portfolio, around AU$15.4 billion at completion, to a consortium consisting of Pepper Money (ASX:PPM), credit funds and accounts managed by KKR, and PIMCO managed funds, according to separate filings with the Australian and New Zealand bourses on Monday.The bank's common equity Tier 1 ratio increased by around 23 basis points after the completion of the transaction.Pepper Money was appointed servicer of the portfolio, per the filings. It also holds a "small investment" in the securitization financing vehicle which acquired the beneficial interest in the loan portfolio, alongside other members of the consortium.

ASX:PPMASX:WBCNZE:WBC
Asia

Westpac NZ Offers Businesses Discounted Lending to Finance Transition From Reticulated Gas Use

Westpac Banking's (NZE:WBC, ASX:WBC) New Zealand unit, via the New Zealand government's Gas Transition Loan Guarantee Scheme, offered businesses discounted lending and extended repayment terms of up to ten years to finance a transition away from reticulated gas, according to a Friday statement from the bank.Applications for the discounted lending are open on a first-come, first-served basis for eligible businesses, Westpac NZ said.

ASX:WBCNZE:WBC
Asia

Market Chatter: New Zealand's FMA Warns Banks Over ASIC's Mortgage Offset Account Review, Says RNZ

New Zealand's Financial Markets Authority (FMA) warned banks to take notice of a review conducted by the Australian Securities and Investments Commission (ASIC), which found that banks failed to properly manage mortgage offset accounts in the two years through August 2025, according to a Friday report by Radio New Zealand (RNZ).The New Zealand regulator is urging banks with offset mortgage products to examine ASIC's findings and assess whether their own safeguards are strong enough to protect customers from similar harm, said Michael Hewes, director of deposit taking, insurance, advice, and credit at FMA, according to the report.During the two years through August 2025, banks paid more than AU$55 million in customer compensation for offset account failures, and further compensation is expected as the extent of the problem becomes clearer, the ASIC said Wednesday.(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.)

ASX:AMPASX:ANZASX:CBAASX:MQGASX:WBCNZE:ANZNZE:WBC
Asia

New Zealand Shares Fall; Freightways Group Appoints David Gibson as Chair

New Zealand shares ended lower on Thursday as Asian markets showed a broad-based decline amid the US Federal Reserve's decision to hold rates and Wednesday's Wall Street sell-off.The S&P/NZX 50 Index fell 1.53% or 213.89 points to close at 13,762.78.On Wednesday, the Nasdaq Composite fell 1.7%, the S&P500 declined 1.5%, and the Dow Jones lost 2.2%.The Federal Reserve held its policy rate steady in a divided decision that included three officials calling for policy tightening. The central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause.On the domestic front, the ANZ New Zealand Business Outlook rose to a net 56.1 in July, up from 36.6 in June, while expected own activity rose to 49.3 from 36.9, according to a report from ANZ Research.In corporate news, Freightways Group (NZE:FRW, ASX:FRW) appointed board member David Gibson as chair to succeed Mark Cairns, effective Thursday.

^NZ50ASX:ANZASX:CBAASX:FRWASX:NABASX:WBCNZE:ANZNZE:FRWNZE:WBC
Asia

ACCC Grants Australian Banks Further Interim Authorization for Proposed Joint Venture for Commercial Cash Supply

The Australian Competition and Consumer Commission (ACCC) said Thursday it granted further interim authorization to Australia and New Zealand Banking Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), National Australia Investment Capital, and Westpac Banking (ASX:WBC, NZE:WBC) to take further steps towards a proposed joint venture to deal with the supply of commercial cash in Australia.The further interim authorization authorizes the banks to agree and enter into, but not give effect to, various agreements, the regulator said. The authorization begins immediately and may be reviewed at any time.The banks sought authorization to establish a single joint cash pool and bailment structure via an incorporated operating entity for the supply of commercial cash in Australia. Under the proposal, each applicant would acquire a 25% shareholding in the entity and a 25% interest in the cash pool. The ACCC determined that the acquisitions may be put into effect on June 26.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

Australian Banks Investing in Technology to Address Mortgage Offset Account Failures, Banking Association Chief Says

Australian banks are taking measures to ensure the proper functioning of mortgage offset accounts, including investments in new technology platforms, Australian Banking Association CEO Simon Birmingham said on Wednesday.Birmingham's comments to the media followed an Australian Securities and Investments Commission (ASIC) report that found major banks failed to properly manage offset accounts in the two years through August 2025.During that period, banks paid more than AU$55 million in customer compensation for offset account failures, the ASIC said after reviewing the offset practices of eight banks, including Westpac Banking (ASX:WBC, NZE:WBC), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), AMP's (ASX:AMP) AMP Bank, Credit Union Australia, HSBC Bank Australia, and ING Bank (Australia)."This report shows that in well over 99% of cases, mortgage offset accounts are working exactly [as] they should be, but it does demonstrate there are some failures," Birmingham said."It's a very small proportion of mistakes that have happened, and what ASIC's report shows is it's often due to manual system processes in isolated cases, or communications failures in some cases," Birmingham added.

ASX:AMPASX:ANZASX:CBAASX:MQGASX:WBCNZE:ANZNZE:WBC
Asia

NZX Midday Sector Update: Finance Advances, Industrial Services Declines

Finance shares gained the most on New Zealand's Exchange, rising over 2% by midday Thursday.Westpac Banking (NZE:WBC, ASX:WBC) gained nearly 4% in recent trade.Meanwhile, the industrial services sector fell past 3%.Ventia Services Group (NZE:VNT, ASX:VNT) shares fell more than 4% in recent trade.

^NZ50ASX:VNTASX:WBCNZE:VNTNZE:WBC
Asia

Australian Banks Paid Over AU$55 Million in Customer Compensation Over Mortgage Offset Account Failures, ASIC Says

Major Australian banks failed to properly manage mortgage offset accounts in the two years through August 2025, resulting in customers unknowingly paying more interest than was due, the Australian Securities and Investments Commission (ASIC) said Wednesday following a review of the sector's offset practices.During that period, banks paid more than AU$55 million in customer compensation for offset account failures, and further compensation is expected as the extent of the problem becomes clearer, the regulator said.ASIC reviewed the offset practices of eight banks including Westpac Banking (ASX:WBC, NZE:WBC), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), AMP's (ASX:AMP) AMP Bank, Credit Union Australia, HSBC Bank Australia, and ING Bank (Australia).It found deficiencies in how all banks set up, monitored, and managed offset accounts, which are marketed as a simple way to save on mortgage interest over the life of a home loan. Banks struggled to readily identify customer offset account requests and were slow to fix issues, while their detection of failures was inconsistent."Some banks are not getting the basics right," ASIC Chair Sarah Court said, noting that some offset failures went undetected until the ASIC started investigating them.The Australian Banking Association did not immediately respond to a request for comment from.

ASX:AMPASX:ANZASX:CBAASX:MQGASX:WBCNZE:ANZNZE:WBC
Asia

NZX Midday Sector Update: Finance Advances, Electronic Technology Declines

Finance shares gained the most on New Zealand's Exchange, rising 1.9% by midday Thursday.Westpac Banking (NZE:WBC, ASX:WBC) gained past 2% in recent trade.Meanwhile, the electronic technology sector fell 1.7%.ikeGPS Group (NZE:IKE, ASX:IKE) shares fell about 2% in recent trade.

^NZ50ASX:IKEASX:WBCNZE:IKENZE:WBC
Asia

NZX Biggest Losers

Here are the NZX-listed companies with the biggest losses on Friday.Asset Plus (NZE:APL): -3%, NZ$0.16Eroad (NZE:ERD): -3%, NZ$0.98Steel & Tube Holdings (NZE:STU): -3%, NZ$0.33Santana Minerals (NZE:SMI): -3%, NZ$0.52Manuka Resources (NZE:MKR): -3%, NZ$0.10PGG Wrightson (NZE:PGW): -3%, NZ$2.18Michael Hill International (NZE:MHJ): -2%, NZ$0.40Westpac Banking (NZE:WBC): -2%, NZ$43.39Goodman New Zealand & Goodman Property Services (NZE:GNZ): -2%, NZ$2.05Ventia Services Group (NZE:VNT): -2%, NZ$7.01

^NZ50NZE:APLNZE:ERDNZE:GNZNZE:MHJNZE:MKRNZE:PGWNZE:SMINZE:STUNZE:VNTNZE:WBC
Asia

Westpac Banking Spends Over AU$2 Million to Upgrade Queensland Branch

Westpac Banking (ASX:WBC, NZE:WBC) invested more than AU$2.2 million to refurbish its Cairns Central branch in Queensland, the bank said June 10.The upgrade is part of the company's broader AU$85 million annual investment in its Australian branch network, including AU$10 million to improve six regional branches and banking centers in Queensland.

ASX:WBCNZE:WBC
Asia

Credit Growth Forecast to Half by 2027, Tighten Bank Funding, Jefferies Says

Credit growth is forecast to halve by 2027, which will tighten rather than ease bank funding, and revised deposit modelling shows the sector's loan-to-deposit ratio rising, driving banks to compete more aggressively for a shrinking pool of funding, Jefferies said in a Thursday note.Recently acquired deposit pricing data points to a second half of fiscal 2026 spread tailwind, but deposit scarcity dominates thereafter.Commonwealth Bank is expected to remain the primary deposit beneficiary, reflecting its scale and long-dated hedge book.The investment firm assigned a buy rating to National Australia Bank (ASX:NAB) with a price target of AU$44.96 per share. It assigned hold ratings to both ANZ Group (ASX:ANZ, NZE:ANZ) and Westpac (ASX:WBC, NZE:WBC), with price targets of AU$33.71 per share and AU$34.95 per share, respectively.Commonwealth Bank of Australia (ASX:CBA) was assigned an underperform rating with a price target of AU$144.40 per share.

ASX:ANZASX:CBAASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

NZX Midday Sector Update: Finance Advances, Communications Decline

Finance shares gained the most on New Zealand's Exchange, rising almost 2% by midday Thursday.Westpac Banking (NZE:WBC, ASX:WBC) gained 2% in recent trade.Meanwhile, the communications sector shares fell past 1%.Spark New Zealand (NZE:SPK, ASX:SPK) was down past 1% in recent trade.

^NZ50ASX:SPKASX:WBCNZE:SPKNZE:WBC
Asia

Westpac NZ Customers to Receive Natural Hazard Risk Information for Properties from Tower Under Insurance Partnership

Westpac Banking (ASX:WBC, NZE:WBC) said Westpac NZ customers who apply for a home insurance quotation in the Westpac One online banking platform will be able to directly access natural hazard risk information from Tower (ASX:TWR, NZE:TWR) for a specific property, according to a Wednesday statement.Under Westpac's general insurance partnership, Tower is Westpac NZ's underwriter for new house, contents, and car insurance products, effective Wednesday.The current insurance policies of existing Westpac insurance customers underwritten by IAG will continue.Shares of the bank fell 1% in recent trading on both the Australian and New Zealand bourses.

ASX:TWRASX:WBCNZE:TWRNZE:WBC

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