New Zealand manufacturing sales volumes rose a seasonally adjusted 0.5 percent in the first quarter, led by gains in chemical and petroleum manufacturing. Chemical, polymer, and rubber product manufacturing volumes rose 8.5 percent helped by increased production at New Plymouth-based Methanex New Zealand and following a 0.5 percent drop in the previous quarter, Statistics New Zealand said. Petroleum and coal …

New Zealand shares fell. Nuplex Industries dropped to a nine-month low after cutting its full-year earnings guidance. New Zealand Oil & Gas declined after it said costs for its offshore explorations in the Taranaki Basin had climbed to US$40 million from US$27 million. The NZX 50 Index fell 7.946 points, or 0.2 percent, to 5179.403. Within the index, 25 shares fell, 18 rose and seven were unchanged. …

The New Zealand dollar recovered from intraday lows amid buying ahead of the monetary policy statement on Thursday, as traders speculate the central bank could be less dovish than the market is pricing. The kiwi rose to 85 US cents from 84.88 cents at 8am to be lower than in late trading yesterday at around 85.13 cents. The trade weighted index traded at 79.28 from …