Animal spirits in 2023: five possible turning points for the markets

Analysts are looking for reasons to shake off the bear market in 2023. (Photo: DALL.E)

Fri, 16 Dec 2022

New Zealand’s benchmark equity index has been in a bear market since September last year and weary investors are hoping the trend will reverse in 2023.Already there has been some improvement. The S&P/NZX 50 Index was down just 12% year-to-date on Thursday morning, up more than 8% from its lowest point in June. But, with inflation and therefore interest rates still stubbornly high, the likelihood of a recession grew each day. Much of the share market decline thus far had been due to repricing companies with higher discou...

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