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NZ share market on brink of correction
The New Zealand share market could fall into "correction" territory this week - more than 10 per cent down from its record high on September 7. US stocks fell again at the weekend despite some solid corporate earnings reports and the trend in the past two months has been for the NZX to fall harder than many markets around the world. "The local market has underperformed US and Australian shares for five of the last eight weeks," says Craigs Investment Partners head of research Mark Lister. "It is down 8.1 per cent from its third quarter high, a much sharper fall than the 2.2 per cent and 1.7 per cent declines seen ... (full story)