Foreign inflows making NZ stocks pricey

Sydney

AS fund manager Mark Williams deliberated from his London office where next to invest, the world's most remote stock market was just too good to pass up. That's worrying locals, 18,000 km away in New Zealand.

The S&P/NZX 50 Index is the world's best-performing developed stock gauge this year, climbing more than 7 per cent to a record after overseas buying of equities jumped 21 per cent in 2015. That's driven stock valuations in the South-Pacific nation close to a record high, leaving them more expensive than anywhere else in the region.