NZ Increases Its Rank In Market Performance

According to research by Merrill Lynch, the NZ sharemarket ranked 26th in world performance last year, compared to its 34th ranking in 1999.
This places us outside the ranking of Top 20 markets for 2000, for which China was the runaway top performer. Its Shanghai B index rose 136.6 percent over the year. The only other country to break double-digit returns was Ireland with 11.7 percent.
The world’s biggest market, the US, lost 10.5 percent, its worst performance in 23 years according to the research.
Most major European markets also recorded double-digit losses, with Japan probably the worst hit of the large markets, shedding 26 percent over the year.
It’s all reminder on the see-sawing of equity markets, says Merrill Lynch.
In 1999 only six of the world’s 38 biggest markets failed to make double-digit returns.
The firm predicts slow start to this year as difficulties of 2000 run their course, and ending with strong foundation for next year.