Saturday, January 14, 2012

Global Equity Markets: Philippine Phisix Grabs Second Spot

Below is a year to date table of 78 nations monitored and tabulated by Bespoke Invest


Bespoke Invest writes

Nine trading days into 2012, the S&P 500 is currently up 2.25% year to date. So how do we stack up with the rest of the world so far this year? Below are the year-to-date returns for the major equity market indices of 78 different countries.

The average year-to-date change for all 78 countries is currently 1.13%, so the US is outperforming the average. There are 49 countries that are in the black for the year (63%) and 29 that are in the red (37%). The US ranks 24th out of 78 in terms of performance.

Just like last year, Greece is currently down the most out of any country with a YTD decline of 5.21%. Jamaica is 2nd to last with a decline of 3.99%, and Pakistan is the third worst at -2.94%. Argentina currently ranks first out of all countries with a gain of 11.26%.

The only G7 country that is down for the year is Italy with a decline of 0.52%. Germany has been the best G7 country with a gain of 4.15%, followed by the US, Canada (1.87%), France and Britain (1.16%) and Japan (0.53%).

The overall good news is that compared to last year, the bulls seem to have reclaimed dominance. The jury is still out as to whether the salutary start can be sustained.

Further, former laggards the BRICs (excluding China) appears to be on the top ten of the list revealing rotational moves anew.

Whereas the Philippines seem to have outsprinted everyone else, including neighboring Thailand, Indonesia and Malaysia but trails Argentina whom has leapt out of the gate to take clear command of the pack (horse racing vernacular). Singapore has been in close second.

Am not sure if the regional outperformance by the Phisix will last though, but this sterling performance certainly has been validating my predictions, here and here


john mangun said...

Benson. This raw data, while accurate, is distorted. The inflation rate in Argentina was last reported at 9.5 % in November of 2011. further, the Argentine peso lost 8+% against the dollar in 2011.

benson_te said...

Thanks John. The Bespoke data deals with nominal returns (year to date) determined by the respective domestic currency.

The complexion of the table changes if we price in real inflation returns and or if priced in US dollar terms.