The 'Saudi Arabia' of milk shakes off dairy gloom

The New Zealand dollar and stocks are rising as a delay in a US rate hike lures investors to embrace risk.

Summary: In New Zealand, stocks and the currency have been climbing. Although milk prices are down compared to a year ago, they have jumped since August as Chinese demand holds up. Tourist arrivals are at record levels and home prices have jumped.

Key take-out: New Zealand’s overall market doesn’t look cheap but now may be a good time to look for bargains ahead of a possible rate cut.

Key beneficiaries: General investors. Category: International investing.

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