Acknowledging of course that stock markets are only a small window on the actual health of economies, it is interesting to note the winners and losers in 2007 in the major world stock markets.
American Stock Markets:
Nasdaq: +9.8%
Dow Jones: +6.4%
S&P 500: +3.5%
World-wide winners:
Shanghai Composite: +97%
Hong Kong Blue Chips: +39%
Germany's DAX: +22%
London's FTSE: +3.8%
France's CAC: +1.3%
And I'm sorry to say to my Japanese friends that Japan's Nikkei was the big loser of 2007 with an overall decline of 11%.
残念だけど不幸中の幸いだ。
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Sources: Forbes (Asian Markets), Reuters (US Markets), AFP (European Markets)
2 comments:
That is major growth in China. I know that the Chinese economy is growing by leaps and bounds, but a 97% increase almost seems unbelieveable for only a one-year period. There must be a back story here that I am missing. Was there a change in how this is being measured since last year? Was there some other major change that would skew the numbers? Or is it really just that intense a pace of growth?
Well stock markets aren't technically a measurement of growth, they are "leading indicators" which show where investors are willing to put their money. It represents where people who pay attention think growth will occur in the future. Gross Domestic Products would be a much better measure of growth in a country, but it will be a while before we know what that is... I'll have to pay close attention to these countries' GDPs and make a post on that when they begin coming out!
Also, I think that Germany's DAX going up 22% was the biggest surprise. We all know that China's growing by leaps and bounds, but 22% is amazing for a European country which usually has 1 to 10% GDP growth. I'm going to be very curious to see Germany's GDP growth in 2007.
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