NZ sharemarket rocked by US inflation data
The New Zealand sharemarket bore the brunt of hotter-than-expected inflation data in the US that saw bond yields rise and more angst over the timing of any interest rate cuts.
The S&P/NZX 50 Index initially held up over the morning session but fell during the afternoon to close down 141.34 points, or 1.18%, at 11,805.
There were 93 decliners and 42 gainers over the whole market on volumes of 27.52 million share transactions worth $111.78m.
Harbour Asset Management portfolio manager Shane Solly said plenty of factors are in play with the local market taking its main ...MORE»
Flint: The platform of mysteryFriday, April 26th, 1:03PM
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Refreshed liquidity guidance a step forward
Updated guidance from the Financial Markets Authority on how fund managers and supervisors can effectively manage liquidity has been welcomed by the boutique investment group (BIG).
Simon Haines, chair of BIG which represents most of the non-bank fund managers, says the new guidance which updates the 2020 version reflects a step forward in what will undoubtedly be an ongoing conversation between the FMA and industry as to the best way to consider liquidity.
“What was good about the guidance was the combination of the FMA providing a clear list of tangible matters ...MORE»
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Updated expectations on liquidity risk managementTuesday, April 23rd, 2:21PM
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Would-be scammer convicted after running one of biggest pyramid schemes in NZ
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