New Zealand suffered a devastating earthquake today, very sadly with tens of people killed and massive property losses. As a result as well, the New Zealand dollar and stocks have dropped significantly.
While the damage still needs top be assessed, in general, these stock losses are not justified. The example is Chile, which also suffered a devastating earthquake in February of last year. ECH is the ETF for Chile.
Since just after the earthquake until the peak, ECH rose over 40%. Earthquakes provide massive government stimulus to the economy.
The ETF for New Zealand is ENZL. It is down about 4 % today:
It's MER is an attractive 0.55%.
Top holdings and sectors:
ENZL is currently trading at $28.42.