New Zealand shares retreated Tuesday, while Asian shares were mixed following the inauguration of US President Donald Trump.

The S&P/NZX 50 Index fell 0.3%, or 35.41 points, to close at 13,052.90.

Health technology led the decline, with stocks down 1.4%.

In Asia, the Shanghai SSE and Japan's Nikkei 225 were both subdued, while Hong Kong's Hang Seng was up 1.1%.

The US market was closed for a holiday on Monday.

On his first day in office, Trump refrained from imposing further tariffs on Chinese goods but said he would implement 25% tariffs on Mexico and Canada from Feb. 1.

In domestic news, the BusinessNZ Performance of Services Index fell to 47.9 in December 2024 from 49.1 in November, marking its 10th consecutive month below the 50-point neutral mark.

Retail card spending rose 2% to NZ$6.59 billion in December from NZ$6.46 billion in the prior month, Stats NZ reported.

In real estate, residential property values edged up 0.1% in the December quarter, according to the QV House Price Index.

In corporate news, Mercury NZ (ASX:MCY, NZE:MCY) reported lower spot electricity prices in the fiscal second quarter in Auckland, New Zealand but logged higher electricity futures.

It also appointed Zespri International Chief Financial Officer Richard Hopkins as CFO, succeeding William Meek. The power generator's shares rose nearly 1% at market close.

Tourism Holdings (NZE:THL) Chief Customer and Revenue Officer Scott Fahey resigned due to personal matters. The company ended Tuesday trade down almost 2%