Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on the state of the NZX after Trump's tariffs

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Shane Solly: Harbour Asset Management spokesperson on the state of the NZX after Trump's tariffs · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk sed be
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  Speaker 2: Shane Soli, Sea Harbor Asset Management Shane. Good evening, Good evening, right,
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  Speaker 2: good to have you on. So the big falls over
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  Speaker 2: them in the US obviously at the end of last
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  Speaker 2: week and then we had the insidets down. Today, we
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  Speaker 2: had the A six down today, that's come back somewhat.
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  Speaker 2: We've had Asian sheares down. How did the insidets finish today.
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  Speaker 3: Yeah, we were down about three point seven busy. It
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  Speaker 3: was quite a broad sell off today, Ryan weakness. Really
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  Speaker 3: the market was dragged down for Fish and Bugle, Healthcare, Orkneyport, Infantol,
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  Speaker 3: Main Freight Contact. But there was a very few stocks
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  Speaker 3: that were in green, very few stocks that went up today.
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  Speaker 3: Excuse me, but yeah, excuse me. Hong Kong is the
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  Speaker 3: weakest market today, down twelve percent. They're catching up the
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  Speaker 3: rest of the world after a couple of days of holidays,
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  Speaker 3: so they're definitely caught up quite fast.
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  Speaker 2: And what is your take on why we had Blood
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  Speaker 2: Living on the Thursday and then we had even more
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  Speaker 2: on the Friday, and then here in New Zealand, and
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  Speaker 2: in Asia we've had even more. Again, is it because
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  Speaker 2: perhaps everyone was thinking, oh, Trump will pull back and
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  Speaker 2: he'll negotiate, and then over the weekend the rehetoric was
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  Speaker 2: not we're sticking to our guns. Has that made things worse?
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  Speaker 3: Yeah? This reciprocal tariff actions are really putting pressure on
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  Speaker 3: So today, over the weekend we've had China and tomorrow
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  Speaker 3: apparently the European Union going to come out with some
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  Speaker 3: response to the tariffs. And it's really excuse me, right,
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  Speaker 3: putting pressure on people's expectations of capitulation. What we did
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  Speaker 3: see today though, is the Vietnamese government come out so, yeah,
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  Speaker 3: we're going to remove all tariffs on you as imports.
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  Speaker 3: That's the first glimming we've had of a deal. So
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  Speaker 3: when we're looking for a circuit breaker, you know what
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  Speaker 3: gets us out of this? It is potentially deals like this.
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  Speaker 3: Of course, the other one being cuts by central banks
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  Speaker 3: and interest rates, but we're a little way away from that.
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  Speaker 2: Yeah, and what about a circuit breaker? I mean, hopefully
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  Speaker 2: things like that would keep happening, But what do you
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  Speaker 2: think it would take to stabilize the market.
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  Speaker 3: Look, I think the market itself is putting pressure on
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  Speaker 3: the regulars. It's putting pressure on the people that are
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  Speaker 3: making policy changes. But we do think it's about literacism deals,
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  Speaker 3: let's seism trade deals. It's also about can these central
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  Speaker 3: banks cut rates? There's definitely plenty of room for the
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  Speaker 3: central banks to cut rates, excuse me, And of course
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  Speaker 3: our central bank is due to report Wednesday this week
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  Speaker 3: and they should be cutting rates. Whether they cut heavily
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  Speaker 3: is probably unlikely, but that's the sort of thing that
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  Speaker 3: we'll see investors revisit markets.
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  Speaker 2: All right, We better leave it there, Shane, you and
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  Speaker 2: go and having glass of water. That's Solly Harve rested management.
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