Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Kiwis more confident about financial markets, FMA says

New Zealanders growing more confident about financial markets, FMA says

By Suze Metherell

May 20 (BusinessDesk) – Public confidence in New Zealand’s financial markets is growing, particularly among middle-income earners, according to a survey by the Financial Markets Authority.

Of the 1,015 people surveyed, 59 percent expressed overall confidence in financial markets, up from 54 percent in last year’s survey, according to the Colmar Brunton poll conducted on behalf of the FMA. Middle-income earners’ faith in markets rose to 69 percent from 56 percent.

Sharemarket activity has been buoyed by the government’s partial privatisation of electricity companies MightyRiverPower, Meridian Energy and Genesis Energy, and a further sell down of Air New Zealand while growing KiwiSaver funds have stoked demand for equities.

“The fact those earning between $50,000 and $100,000 per year are a lot more confident points to broader participation in share markets and financial markets more generally,” said Rob Everett, chief executive of the FMA. “This reinforces the increasing importance of KiwiSaver, as people watch their balances grow.”

Some 75 percent of those surveyed held some kind of investment, a slight increase from last year’s 72 percent. Of those who invest, 61 percent were confident in the markets, a gain from 58 percent in 2013 and of those without investments 52 percent were confident, compared to 41 percent in 2013.

The NZX 50 Index, New Zealand’s benchmark index, has been one of the best performers in the Asia-Pacific region year-to-date, advancing 9.2 percent, compared to a gain of 1.1 percent for Australia’s S&P/ASX 200 Index, while Hong Kong’s Hang Seng Index’s fell 2.6 percent and Japan’s Nikkei 225 Index dropped 14 percent.

Under the new Financial Markets Conduct Act 2013 investment material must be simpler and easier for retail investors to understand. According to the survey, of those with investments 53 percent said investment information received was helpful in making an informed decision about investing.

“With increasing confidence in the infrastructure and its regulation we’d hope people become more confident about participating in the markets while understanding that markets move in cycles and positive outcomes are not guaranteed,” Everett said.

This is the second year the authority has surveyed the public.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news