Asia
New Zealand Shares Rise; Synlait Milk Chief Quality Officer Resigns
New Zealand shares rose on Thursday despite a broad-based fall in Asian shares amid fears that the US may strike Iran again.The S&P/NZX 50 Index rose 1.05% or 133.01 points to close at 12,903.31.US President Donald Trump is scheduled to receive a briefing on Thursday from CENTCOM Commander Admiral Brad Cooper on new plans for possible military action against Iran, Axios reported on Thursday, citing two sources familiar with the matter.In domestic news, New Zealand's total lending edged higher in March, driven by a rise in housing and agricultural loans, even as personal consumer and business lending declined, according to data from the Reserve Bank of New Zealand.Further, business confidence in New Zealand turned negative in April, falling to minus 10.6 from 32.5 in the previous month, as inflation indicators continued to trend higher, ANZ Research said.Meanwhile, small businesses in New Zealand are pacing a slow recovery and building on the improvements seen in the second half of last year, with a 3.9% rise in sales in the March quarter, as mounting fuel shock risks remain uncertain, Xero said.In corporate news, Synlait Milk (ASX:SM1, NZE:SML) said that Chief Quality Officer Hila Mory has resigned, effective July 31.T&G Global (NZE:TGG) said it is in talks to sell its New Zealand fresh produce operations to founder J & P Turner and its Fijian and Pacific businesses to Bidfood to focus on its Apples and VentureFruit platforms.
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