The NZX 50 market index is close to major milestone, with the index trading just below the 10,000 level. Local investor sentiment was buoyed by the NZ government's decision to ditch a proposed capital gains tax as well as weak inflation data.
Global markets were higher on Friday as US shares were boosted by better-than-expected job growth in March (with the unemployment rate holding near a 49-year low), which eased concerns of an economic slowdown
The NZ market continues to surge, with the NZX close to the 10,000 index level. The ASX also traded higher as investors digested a Reserve Bank decision as well as the Federal Budget on “Super Tuesday” which
Apple is attempting to reintroduce itself as an entertainment and financial services company that also makes iPhones as it launched a streaming television service, a credit card and an online gaming arcade.
The path for the RBA is not clear cut, and economists have noted the strong tension between employment and economic growth in the minutes from the March meeting.
After a remarkably strong first 2-months of 2019 (with the US & NZX markets near all-time highs & the ASX at a 6-month high) there has been an unwind and return of risk-off sentiment over the past week.
Shares in A2 Milk jumped +10% yesterday to new highs after delivering another impressive first half result – contrary to some commentators who expressed concerns prior to the result.
There have been growing views that there will be interest rate cuts by the Reserve Bank’s across both sides of the Tasman. Yesterday, Reserve Bank of NZ governor Adrian Orr’s latest monetary policy statement was on the dovish side, but not as dovish as
We have highlighted risks to the property market in the past, and were quoted in the NZ Herald again yesterday.
At the current juncture, we do not foresee a catalyst for a large market crash, although volatility is likely to remain elevated in our view, until at least the middle of the year when there is likely to be better clarity around several of the uncertainti
