PHOTO: Shamubeel Eaqub. Photo credit: The AM Show
Economists are warning those near retirement to take a close look at their KiwiSaver portfolios, as the coronavirus outbreak starts to infect the markets.
World shares have fallen five days in a row on fears the virus, known as COVID-19, will impact trade. Though no cases of the virus have been confirmed in New Zealand, our share market hasn’t been immune – dropping nearly 5 percent this week.
“The global economy is more reliant than ever on Chinese demand and its economic growth. With that in mind, the risk is that the global slump may persist through the calendar 2020 year,” said ASB chief economist Nick Tuffley.
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