"In the March quarter, we have seen a bit of sell-off but a lot of stocks on several fronts have gained a fair bit," he said. "And it's not just the local market."
In Australia, the banking stocks have taken a hit on the back of a less than complimentary royal commission of inquiry into the banking scene, but outside the those big bank stocks the Aussie market piled on a 6 per cent gain last month.
News that New Zealand Aluminium Smelters (NZAS) planned to bring its fourth potline at Tiwai Point out of mothfalls after a six-year hiatus has boosted confidence for the power generators.
What NZAS does with Tiwai - the New Zealand's single biggest power user - is highly relevant to South Island power generator Meridian and the rest of the generators because of of its place as New Zealand's single biggest power user.
Keytone's ASX listing
Another, albeit small, listing of a New Zealand-based company is destined for the ASX.
Keytone Corp, a Christchurch-based dairy company taking aim at Chinese and European markets, said it plans to list on the ASX, adding to the club of stocks who have bypassed the local exchange in favour of its bigger Aussie brother.
Keytone was founded in 2011, commenced production of its KeyDairy products in 2014. The company makes, packs and exports of dairy and nutrition products, with a particular focus on powdered dairy products.
Keytone plans to offer 60m to 75m shares to raise A$12m- $15m, at 20c a share.
Happy hunting ground?
But is Aussie a happy hunting ground for New Zealand based small issuers who circumvent NZX to raise money and list on the ASX? Well, not quite.
Kiwi software services company 9 Spokes shares were issued in 2016 at A20c and last traded at A4c - a decline of 80 per cent.
Shares in healthcare equipment company Adherium were issued in 2015 at A50c. They last traded at 14c, down 72 per cent.
Agricultural technology company Croplogic started last year at A20c and last traded at A4c, down 80 per cent.
Jetpack inventor Martin Aircraft shares were issued in 2015 at 40c and last traded at 0.9 of a cent - down 97.5 per cent.
Technology incubator Powerhouse Ventures at kicked off at $1.07 and last traded at 20c, down 81.3 per cent.
Wifi analytics company Tomizone (20c) listed in 2015 last traded at 1c, down 95 per cent.
The only winner of the bunch is Volpara Health, whose shares were issued 2016 at 50c. It last traded at 67c, up 34 per cent.
THL on a roll
Tourism Holdings shares have been riding the crest of the tourism boom, trading yesterday at $6.11, up from $3.72 this time last year.
The current share price is a far cry from five years ago, when it hit 60c as the impact of the global financial crisis continued to bite hard.
The firm has diversified by buying into motorhome businesses in the US, Australia and Britain as well as investing heavily in technology.
A big part of that future in New Zealand is electric vehicles, which the company put on show at this week's Trenz tourism event in Dunedin.
