Market & Portfolio Update - January 2025
Global share markets had a positive month, ending December up +0.9% in local currency terms. This caps off a strong year, with global share markets up +26% in 2024.
The US was the primary driver of global returns, as inflation cooled and consumer spending remained strong throughout the year. Investors were also bullish on strong earnings growth for tech companies, and stocks surged following Donald Trump’s re-election in November.
The New Zealand share market also had a strong year, ending up +12% in 2024 – its best performance since 2020. Some of this gain is attributable to investors anticipating a more positive business environment. Starting with an initial cut in August, the Reserve Bank of New Zealand (RBNZ) cut rates by a total of 1.25% during the year. These cuts were in response to domestic inflation falling from 4.7% to 2.2% in 2024, back within the RBNZ’s target range of 1-3%.
Market & Portfolio Update - August 2025
The global share market (represented by the MSCI World Gross Index) was up +2.6% in NZ dollar terms in August. All eyes were on the largest publicly traded company in the world, Nvidia, as the AI chip producer released their latest earnings report, which soundly beat investors’ expectations of sales and earnings.
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