Sharemarket follow Asian markets higher on renewed hopes for China-US resolution

New Zealand shares followed Asian markets higher on renewed hopes for a resolution to the US-China trade tensions. Trading was light with few local drivers.

The S&P/NZX 50 index rose 19.9 points, or 0.2 percent, to 9077.71. Within the index, 28 stocks rose, eight were unchanged and 14 fell. Turnover was $125.3 million.

Asian stocks lifted on renewed optimism after the Wall Street Journal reported U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade ...MORE»

[The Wrap] Friday, January 18th, 2:07PM For those of you back on deck, welcome back. 2019 will, I think I can boldly predict, be an interesting year with many challenges for the financial services industry. MORE»

Wealth business pays off for banks Thursday, January 17th, 6:00AM  1 comment New Zealand banks may be reluctant to let go of their wealth businesses because of the profitability of those segments. MORE»

Doing nothing 'not an option'

Advisers do not need to have a definite plan yet for how they will approach the new legislative regime – but they need to engage with the process, Financial Services Council (FSC) chief executive Richard Klipin says.

The Financial Services Legislation Amendment Bill is set to pass into law in the first quarter of this year, starting a process that will lead first to transitional licensing for the sector later in 2019, then full licensing two years later.

All financial advisers will need to be working for a licensed financial advice provider once the regime takes effect – whether that is their own business ...MORE»

Booster puts pressure on index funds over weapons investments Tuesday, January 15th, 7:21AM Booster is one of the first New Zealand co-signatories to the recent global investor initiative, calling for action on continued investment in controversial weapons. MORE»

Harbour fixed income head moves on Monday, January 14th, 2:48PM A role at the Reserve Bank beckons for one of the key faces of Harbour Asset Management. MORE»

News Bites

Advisers sign on for regulation summit

More than 700 financial advisers and industry specialists have signed up to the 2019 Navigating Regulation Advice Summit. MORE»

GoodReturns TV

[GRTV] Great advice from the best

In our second show from the Financial Advice NZ conference Good Returns talks with popular keynote speakers Don Connelly and Michael Harrison. MORE»

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Industry ready for regulators' insurance report

A Financial Markets Authority and Reserve Bank report into life insurers’ conduct is due at the end of this month – and insurers are bracing for a tougher line than was taken with banks. MORE»

TMM Online

Reserve Bank proposals could force $2 billion mortgage hike: UBS

The Reserve Bank's new capital proposals could force Kiwis to pay $1.9 billion-$2.7 billion more for their mortgages each year, investment bank UBS has warned. MORE»

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From FMA to RBNZ

A new assistant governor of the Reserve Bank has been hired from the financial markets regulator. MORE»

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Govt moves to allow early KiwiSaver withdrawal

Government is exploring its options to allow people with life-shortening conditions to access their KiwiSaver money earlier. MORE»