Bear market likely to last into next year, despite third-quarter gain

Stocks were dragged down in late September when bond yields rose on inflation fears. (Photo: Getty)

Fri, 14 Oct 2022

The New Zealand equity market had a mixed performance in the September quarter, with some stocks rebounding on improved earnings while recession risks dragged others lower.NZ’s benchmark index appeared to be in recovery for much of the third quarter and was up more than 10% at one stage.However, this rally was short-lived and mostly unwound during the latter weeks of September as investors realised central banks would have to do more work to bring down inflation.Morningstar senior equity analyst Adrian Atkins said the current bear market...

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