Sharechat Logo

Starting with a bang - will the 'risk-on' party continue?

Friday 10th February 2023

Text too small?

While the weather in the upper North Island has made for a challenging start to the year, it has been a very different story for markets, which globally have enjoyed a very strong rally thus far in 2023. The US indices have set the tone, with the S&P500 having had its best January in four years with a gain of 6.3%. Technology stocks have driven the momentum, with the Nasdaq up 10.7% and enjoying its best January since 2001. 

 

The kiwi market has also caught a New Year tailwind, with the NZX50 rallying 4.3% in January. Other China facing countries have also seen their markets perform very strongly amid the country’s pivot away from a Covid-zero policy. The ASX200 in Australia surged 6.2% in January, while the Hang Seng in Hong Kong has leapt over 10%.

 

Upward momentum for stock markets in 2023 of course follows what was a very challenging 2022 for investors. Risk appears to be back on the table, on the view that the worst-case scenarios priced into markets will not eventuate.

 

But is newfound investor optimism justified, and what are the implications for markets in the coming months, and the rest of the year?

To read the full interest piece, please click here.

Read Full Monthly Report


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TWR - Tower announces strategic review
PFI - 11 Sheffield Street, Blenheim Divestment
December 4th Morning Report
Me Today - Notice of Annual Shareholder Meeting
FSF - Director Scott St John to retire from Fonterra Board
Greenfern announces change in Chief Financial Officer
AIA Provision of Financial Assistance - Employee Share Plan
CBD - Recording and Presentation of Investor Call
AUCKLAND CAR PARK CONCESSION AGREEMENT - HIGH COURT JUDGMENT
CRP - Korella North Mining Lease Lodgement Approved