New Zealand Prime Minister Hipkins concedes defeat in election, congratulates National Party

New Zealand Prime Minister Chris Hipkins conceded his Labour Party had lost the general election on Saturday. Hipkins said he was "not in a position to form a government" and congratulated incoming conservative premier Chris Luxon.
Luxon later said at a victory speech that his National Party was on course to form the next government with coalition partner ACT New Zealand. The National Party had nearly 40 percent of the votes while the ACT party had over 9 percent, which based on the current tally would give the two parties enough seats to form a government.