Offshore sentiment drives local market

Offshore sentiment drives local market
(Image: Getty)
Graham Skellern
The fight against inflation is far from over. Global sharemarkets, including New Zealand’s, sold off sharply after the United States Federal Reserve indicated interest rates may need to go higher for longer. Following offshore leads, the S&P/NZX 50 Index fell at the opening and then traded steadily to close at 11,855.54, down 64.02 points or 0.54%. There were 60 gainers and 76 decliners on the main board with 24 million shares worth $117.14m changing hands. US Federal Reserve chair Jerome Powell told the Senate banking,...

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