NZ shares end week on a flat note
The S&P/NZX 50 Index gained just 3 points and closed at 13,229.2. Turnover was $130 million.
Still, the local index is outperforming others with the ASX 200 down 2% today and the S&P 500 falling 4% during September – its first monthly decline in almost a year.
Equity markets are under pressure due to a range of concerns including elevated inflationary pressures which could lead to monetary policy tightening sooner rather than later.
This move to curtail global inflation from important central banks, such as the US Federal Reserve, would likely cause a slowdown in global growth. NZ’s own central bank looks ready to raise domestic interest rates next Wednesday, as the Reserve Bank of New Zealand (RBNZ) moves to head off inflation.
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