NZX 50 tops 8,000 for first time as stocks outshine other asset classes

Mon, 09 Oct 2017

By Jonathan Underhill Oct. 9 (BusinessDesk) - New Zealand's benchmark S&P/NZX 50 Index has topped 8,000 for the first time as tepid inflation, low interest rates and a stable economic outlook make returns from stocks a standout compared to other asset classes. The NZX 50 rose 0.5 percent to 8016.89, and earlier touched a record 8017.44, bringing its gain this year to about 16 percent. That would mark the fifth straight year of above-10 percent gains. The gains have been driven by some of the economy's powerhouses - dairy products and t...

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