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  • Editor’s Picks / 13 April 2016 at 23:21 GMT

    Foreign buyers snap up New Zealand stocks as S&P/NZX50 soars

    The Sydney Morning Herald
    The S&P/NZX 50 Index is the world's best-performing developed share index this year, climbing more than 7% to a record after overseas buying of equities jumped 21% in 2015. That's driven stock valuations in the South-Pacific nation close to a record high. Foreigners now own about one third of New Zealand's market according to JBWere. “It's a small market and it doesn't take much to move it,” said Chris Green, the Auckland-based director of economics and strategy at First NZ Capital Group. “There's limited domestic sellers and plenty of foreign buyers. At the point the music stops, it's a small door as well, so that tends to exaggerate moves on the way up and on the way down.”
    Read article on The Sydney Morning Herald
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