Don’t Expect Another Roaring Year for Asia-Pacific Stock Darling
- New Zealand’s benchmark index has jumped 29% in 2019
- But UBS sees “largely non-existent” earnings growth next year
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New Zealand equities will find it hard to match the stellar run they have had this year.
After a record 29% rally in 2019, the benchmark S&P/NZX 50 Gross Index is poised to give in to gravity as earnings stagnate. UBS Group AG sees it climbing to just 11,780 by the end of 2020, or 4% above the last close.