Speculative crypto trading poses a major headache for regulators, with most novice buyers dipping their toes into the markets without basic trading knowledge. According to Blockchain data analytics firm Glassnode, newer investors and short-term holders led the recent bout of crypto panic-selling, crystallising their losses after buying in at the top.
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The wild swings in bitcoin value are another reminder of crypto’s hyper-volatility. New Zealand regulators remain on alert as crypto becomes part of the mainstream investment conversation. But they are limited to giving broad guidance and warnings. The Reserve Bank has published a “buyer beware” warning in its past market analysis, but doesn’t treat cryptocurrencies as proper currencies. And while the Financial Markets Authority regulates businesses operating in the sector, such as Easy Crypto, it doesn’t have any oversight of trading.
“The CDC data centre s doing well, Vodafone s tracking sideways, Trustpower if you exclude those derivatives is tracking well, Wellington Airport of course [suffered due to] Covid so that s down, Longroad is down and corporate expenses are up. Manager Morrison & Co took $223m in fees, in part a reflection of Infratil s increase in share price, Sullivan said. It was an eventful year for Infratil, during which its Wellington Airport asset was closed for a long period, it received two unsolicited takeover offers and veered into diagnostic healthcare.
SIMON O CONNOR/Stuff
Waipipi, a nearly finished wind farm in South Taranaki, is owned by Tilt Renewables, which has recently been sold by Infratil and other shareholders for nearly $3b. The buyers included Mercury Energy.
Market close: NZ sharemarket hits nine-week low as inflation fears rattle investors
19 May, 2021 05:47 AM
4 minutes to read
The New Zealand sharemarket fell more than one per cent. Photo / NZME
NZ Herald
By: Graham Skellern
Inflation fears again rattled the nervous New Zealand sharemarket which hit a nine-week low after falling more than one per cent. The S&P/NZX 50 Index closed at 12,296.74, down 131.87 points or 1.06 per cent, and reaching levels seen in early March. The index, like it has done all week, climbed in the morning to 12,435.91 points but at lunchtime it followed the Australian ASX market sharply down.
The S&P/ASX 200 Index had fallen 2.02 per cent to 6923.10 points at 5.45pm (NZ time), and that index has lost 1.73 per cent in the last five trading days, though it s still 3.48 per cent above its 52-week high.
Wicked Local
Frank Sullivan always was the go-to guy in the family, a man who combined a solid education with a philosophy to give back to others as his central creed.
And that made it even harder for his family to watch as Alzheimer s disease slowly but incessantly took away those gifts, turning his sharp mind forgetful and his giving nature into a sometimes angry man. It took a physical toll on him, stated his son, Paul Sullivan. He couldn t perform any daily functions, he needed 24-hour care.
As painful as it was to watch his father battle with the disease, Paul, who grew up in Holbrook, decided to do some giving back himself. A dozen years ago, he organized Sully s Buddies, a bicycle team to ride in the Memory Ride - now called the Ride to End ALZ MA/NH - to raise funds for the Alzheimer s Association.