U.S. stocks had a banner year in 2017. These markets did even better

The top 7 money stories of 2017

U.S. stocks were on a first-class ride into record territory in 2017. however they weren’t alone.

The value of public companies on global stock markets grew by $12.4 trillion in 2017, according to S&P Dow Jones Indices, which included dividends in its calculation. several markets even outperformed the U.S.

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Here’s a look at the biggest stock market winners of 2017:

The United States

U.S. stocks were front and also also also center as investors bet on strong economic growth, solid corporate earnings and also also also hopes which President Trump would likely roll back regulations. Trump also boosted markets which has a big corporate tax cut.

The Dow Jones industrial average shot up by 25%, the S&P 500 surged by 20% and also also also the tech-heavy Nasdaq index outshined them with all which has a stunning 29% gain.

global stock markets 2017

Argentina

Argentina’s Merval index surged 73% which year and also also also hit a record high the day after Christmas.

The election of President Mauricio Macri in late 2015 proved to be a turning point: The economy is usually growing and also also also stocks have rallied strongly. The Merval gained 45% in 2016.

Macri pursued several economic reforms which year, helping to further boost business confidence.

“President Macri navigated political risks well in 2017, and also also also with no elections scheduled in 2018, Argentina actually stands out as a political safe haven in Latin America for the year ahead,” said asset management firm Algebris Investments.

Still, there’s more to be done: Inflation is usually above 20% and also also also the currency continues to weaken.

best stock markets 2017
Global investors have been bullish in 2017, leading to big stock market gains in countries like Argentina, Nigeria and also also also Turkey.

Nigeria

The Nigerian All-Share index is usually still miles below record highs set in early 2008, however a 43% rally in 2017 has helped to close the gap.

The index suffered mightily in 2015 and also also also 2016 as low oil prices, militant attacks, currency troubles, elections and also also also Ebola hit investor sentiment.

however oil prices have moved higher, the central bank has made which easier to swap currencies and also also also the economy has snapped out of recession, explained Zin Bekkali, founder and also also also CEO of Silk Invest.

Many analysts are optimistic which stocks could keep rising in 2018.

“If you look at where we stand today, the [Nigerian] market is usually still one of the cheapest markets on the planet,” said Bekkali.

Turkey

An attempted coup in 2016 and also also also a series of terror attacks sent chills through the Turkish economy.

Yet the country’s benchmark index rallied by 43% which year as the government implemented temporary tax cuts and also also also a loan guarantee program which encouraged banks to lend to little businesses. GDP growth soared, reaching 11.1% within the third quarter.

The stock market performance was also helped by the falling Turkish lira, said Neil Shearing, chief emerging markets economist at Capital Economics.

at which point experts are warning which the not bad times can’t last forever.

“through here on we think the economy is usually getting close to overheating,” said Daniel Salter, global head of equities at Renaissance Capital.

Hong Kong

The Hang Seng charged ahead by nearly 35%, however China’s major mainland indexes in Shanghai and also also also Shenzhen floundered.

Why the disparity?

which’s all about Tencent (TCEHY), said Dickie Wong, the head of research at Kingston Financial Group.

Shares within the Hong Kong-listed tech giant more than doubled over the past year and also also also the company’s valuation briefly eclipsed which of Facebook (FB).

WeChat, the company’s favorite mobile messenger, has close to 1 billion users, and also also also investors have cheered forays into mobile gaming and also also also video streaming.

Meanwhile, the Shanghai and also also also Shenzhen markets have languished after state media convinced local investors to be cautious, said Wong.

The biggest loser: Qatar

While most major stock markets posted sizable gains, the rising tide didn’t lift all boats.

Gulf nation Qatar’s stock market tumbled by 19% amid a spat with its neighbors: Saudi Arabia, Bahrain and also also also the United Arab Emirates.

Their decision to cut diplomatic ties and also also also transport links with Qatar in June took the region by surprise.

The nations accused Qatar of funding terrorism, a charge which denies. Efforts to restore ties have so far failed.

Qatar has found workaround strategies and also also also different trade routes to get by, said Shearing.

“A lot of the initial economic disruption has faded,” he said. “which doesn’t look like [which] will be resolved quickly, however which doesn’t look like which’s doing vast damage to Qatar’s economy.”

Correction: A previous variation of which article incorrectly spelled the name Zin Bekkali.

sy88pgw (London) First published December 27, 2017: 6:12 AM ET


U.S. stocks had a banner year in 2017. These markets did even better

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