NZ sharemarket falls 1%
The New Zealand sharemarket, down 1%, had its biggest single-day decline in four months. But it wasn’t as bad as the widespread selling and falls offshore.
The S&P/NZX 50 Index battled gamely on light trading to close at 11,804.84, down 111.94 points or 0.94%.
The previous largest single-day fall was 1.07% on Nov 16. There were 104 decliners and just 35 gainers on the main board, with 21.04 million shares worth $80.22m changing hands.
Across the Tasman, the S&P/ASX 200 Index had fallen 1.68% to 7,622.1 points at 6pm NZ time. The Hong Kong Hang ...MORE»
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Financial complaints rise as cost-of-living pressures continue
As the cost of living crisis bites, disputes have risen by 36% and complaints to Financial Services Complaints Ltd (FSCL), a free financial ombudsman service, have risen by 17% .
An uptick in complaints about financial advisers (mortgage advisers, share brokers, and insurance brokers) has been noticeable, although overall adviser complaint numbers are low.
The biggest number of complaints are about non-bank lenders. They made up 54% of the disputes FSCL investigated in the six months to the end of last year, up about 14% on the same period in 2022.
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