Kiwi Stocks in the Z Zone as World-Beating Gains Unwound: Chart

(Bloomberg) -- The best performer this year among developed nations, New Zealand’s S&P/NZX 50 Index, has been a market darling, until now. The gauge is leading losses among major indexes as concern central banks are questioning loose monetary policy pummels risk appetite. The NZX’s so-called Z score, a measure of how many standard deviations away from zero, or the mean, the index has moved breached negative 4 for only the fifth time in more than eight years Monday, with three of those moves happening in the summer of 2011.

--With assistance from Garfield Reynolds To contact the reporters on this story: Emma O'Brien in Wellington at eobrien6@bloomberg.net, David Ingles in Hong Kong at dingles@bloomberg.net. To contact the editors responsible for this story: Emma O'Brien at eobrien6@bloomberg.net, Jake Ulick