Had to do with all the extra Contact shares out there - funds rebalancing portfolios by selling others to keep the weightings in order
yeah, thats the correct answer Winner. Unfortunately, our financial press reporters won't write it up as such. But at least some of the ill-informed comments on the various trolled threads can be seen for what they are eh?
We are being bombarded by many on ST that some of us are unnecessarily negative as we are being told that our economy is still good and the future looks bright....
Think rockstar..spread the good word and bugger the world..
OK.. the good word is this NZX50 chart is one of the better index charts in the world at the moment.....is spreading this good word working...warm fuzzies from everyone...eh?
Same goes for the Nikkei and Sensex...The logic must be they're spreading the good word too...Hallelujah
The Aussis the Americans the British the Europeans the Singaporeans the Chinese don't know how so they maybe started that travel to hell in a handcart..
....and tonight in Europe that trip to hell is continuing to look likely..
The NZX50 chart below is simple, although we just had a record high if the NZX50 index breaks that 5695 bull/bear support we could be going to hell with them
I think what is happening in overseas markets has more to do with falling oil and commodities causing people to sell those sectors and a bit of fear in regards to china - in nz we don't have any representation of those commodity sectors.
In fact in the us the utilities and treasuries have performed really well so saying the markets as a whole are crashing is really not correct. in nz we have good representation in those sectors
so explains why nz is holding up. doesn't mean some people wont naturally panic lol
Bookmarks