Top 10 things hitting the headlines in NZ market today

Highlights

  • Eight new community cases of COVID-19’s Delta virus reported on Tuesday.
  • Jacinda Ardern announces relaxation in travel curbs around Auckland borders in special cases.
  • Mercury NZ has been given clearance to acquire the retail business of Trustpower.

New Zealand is always buzzing with news and updates covering various sectors along with economic and political actions that keep affecting the NZ market.

Here is a list of top things affecting the NZ market as of 28 September 2021.

Top events affecting NZ

Image source: © 2021 Kalkine Media New Zealand Ltd

  1. More COVID-19 delta community cases in Auckland

NZ reported 8 new delta community cases of COVID-19’s Delta virus in Auckland, taking the total case number to 1,185.

  1. Wastewater from Tauranga tests Covid positive

Wastewater taken from Tauranga on 23 September tested COVID-19 positive. More samples from Tauranga and Mt Maunganui were taken on Tuesday with results likely to come on Thursday.

  1. Travel curbs relaxed across Auckland borders in special situations

Jacinda Ardern announced that people can travel across Auckland borders if they plan to begin a new job, move house permanently, travel to share joint custody of a child or to a tertiary education residence. The changes would apply from 11:59 pm on Tuesday.

ALSO READ: What lies ahead for NZ travel and tourism sector in 2021?

  1. Draft Law released to cool down the hot housing market

The NZ government released a draft law on Tuesday. The law would not permit property investors to deduct mortgage interest from their taxable incomes on investments made before 27 March over the period from 24 September 2021 to 31 March 2025 with some allowances. However, there would be a 20-year exemption for new builds.

RELATED READ: NZ Government announces a proposal on interest deductibility rules

  1. Air NZ announces more quarantine flights

Air NZ is set to add 31 red (quarantine) flights from Australia to NZ in December for those who plan to return to NZ before the year ends. The move has come as 3,000 rooms are being added to MIQ on Tuesday.

  1. NZ welcomes China’s application for CPTPP

New Zealand has reacted positively to the announcement that China would join the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).

  1. FMA publishes KiwiSaver report

KiwiSaver accounts crossed NZ$81 billion while KiwiSaver providers earned NZ$657 million in fees (+21% on pcp) in the year to 30 March 2021.

  1. Mercury NZ granted approval to acquire Trustpower

Mercury NZ Limited (NZX:MCY) has been given the green signal by Commerce Commission to acquire the retail business of Trustpower Limited (NZX:TPW) for NZ$441 million.

RELATED READ: Which are 5 NZX energy stocks to be considered in 2021?

  1. China faces energy crunch

China is experiencing a major power crisis amid an increased year-end demand from producers and shippers, which can have implications worldwide. There have also been fears among markets over debt-laden Evergrande, a Chinese real estate giant.

ALSO READ: China pumping billions into system to soften Evergrande blow

  1. NZD/USD falls 0.1%

The Kiwi dollar was at USNZ$0.7009, down 0.1% during the afternoon. The NZD/USD pair did not maintain the recovery witnessed a day before, ignoring the NZ government’s efforts to cool off the hot housing market.

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