Cream of the Crop: Why New Zealand’s Stock Market Is Breaking Records

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New Zealand is milking its market's unusual makeup

The S&P/NZX 50 has advanced 7.1% this year, hitting several new peaks this week. On Thursday, it touched a fresh intraday high of 9442.54. Other markets in mainland China and elsewhere have surged far more in 2019—but only after crashing late last year.

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