New Zealand shares finished flat with a negative bias on Thursday amid a broad-based sell-off in all Asian markets after a lower Wednesday Wall Street close.
The S&P/NZX 50 index was little changed to close at 13,444.02.
On Wednesday, the S&P 500 lost 0.5%, the Nasdaq fell 1.5%, while the Dow Jones managed to gain 0.5%.
Wall Street was impacted by investors’ worry over tech stocks as Alphabet’s target expenditure of up to $180 billion surpassed expectations, and results from chipmaking giant AMD disappointed shareholders.
In domestic news, the New Zealand Home Value Index (HVI) fell 0.1% in January, extending last year’s broadly flat property market trend, according to figures from Cotality.
In corporate news, Santana Minerals (NZE:SMI, ASX:SMI) said the fast-track approvals process for its Bendigo-Ophir Gold Project has reached a key milestone, with a formal decision now expected by Oct. 29.
Westpac Banking’s (NZE:WBC, ASX:WBC) New Zealand unit has become the sole bank financier of the Kapuni green hydrogen project at Taranaki.
