Politics
New Zealand Assets Face Headwinds as Election Race Tightens
Key Points
Currencies New Zealand Assets Face Headwinds as Election Race Tightens New Zealand’s stocks and currency face a test as a tight general election raises the prospect of drawn-out coalition talks and uncertainty over the next government’s policy agenda. The benchmark S&P/NZX 50 Total Return Index has lost momentum after hitting a record high in August as investors turn cautious ahead of the Nov. 7 election, with recent polls pointing to a close race and a potentially complicated path to...
Currencies
New Zealand Assets Face Headwinds as Election Race Tightens
New Zealand’s stocks and currency face a test as a tight general election raises the prospect of drawn-out coalition talks and uncertainty over the next government’s policy agenda.
The benchmark S&P/NZX 50 Total Return Index has lost momentum after hitting a record high in August as investors turn cautious ahead of the Nov. 7 election, with recent polls pointing to a close race and a potentially complicated path to forming a government. Meanwhile, the New Zealand dollar has sold off against the greenback, with its value sliding around 6% since late August.