WELLINGTON, Sept. 22 (Xinhua) -- New Zealand investor confidence has fallen to its lowest level since the COVID-19 pandemic, weighed down by global uncertainty, sharemarket volatility and a flat housing market, a survey shows.
The latest Investor Confidence Survey released Monday by Auckland Savings Bank (ASB), one of New Zealand's major banks, showed net investor confidence, the difference between those expecting investment returns to improve versus worsen in the coming year, dropped to 1 percent in the June quarter, from 9 percent three months earlier.
That is the weakest reading since the third quarter of 2020, though still well above the 25 percent hit in mid-2020 at the height of the pandemic, the survey said.
Investor sentiment fell across all regions, with the biggest decline in the lower North Island, where confidence slid 18 points to -6 percent, it said.
Investors in Auckland, New Zealand's largest city, were the most upbeat, with net confidence of 10 percent, it said, adding younger investors under 39 were more positive, while those over 60 were the least optimistic.
"It's been a challenging six months, with markets affected by uncertainty around tariffs and global issues, alongside concerns at home, such as the housing market, which hasn't bounced back the way people expected it to," said ASB senior economist Chris Tennent-Brown.
This has led to a more pessimistic investor confidence, mirroring weak consumer sentiment, Tennent-Brown said.
More than half of respondents cited global political instability as a major concern, the survey said. ■