New Zealand ETF: Post-Quake Opportunity?

Last month a massive earthquake struck the New Zealand city of Christchurch on the country’s south island, killing more than 160 people and causing widespread destruction. The country’s equity markets took a beating in the wake of the natural disaster, plummeting as concerns spread that the quake would grind an already fragile recovery to a halt. According to government estimates, the clean-up could cost as much as NZ$ 15 billion, considerably more than the costs associated with a September tremor because the more recent disaster hit the city’s central business district. The Treasury department estimated that economic growth in New Zealand would be 1.5 percentage points lower in 2011 as a result of the quake, a significant decline for an economy that is in danger of entering its second recession in as many years. Finance Minister Bill English indicated that the impact of the quake combined with slower economic growth [...] Click here to read the original article on ETFdb.com. Related Posts: World Cup Of ETFs: Plays On All 32 Countries Three ETFs To Watch This Week: EGPT, KWT, BNZ Global X Debuts Argentina ETF (ARGT) Global X Launches Andean ETF (AND) Wednesday’s ETF To Watch: Chile Index Fund (ECH)