Here is a rundown of the performances of select stock markets around the world.
The table, from Bespoke, is calculated in US dollar and local currency terms, but ranked according to returns based on the US dollar.
According Bespoke,
``European equity markets look much worse in terms of dollars given the weak performance of the Euro so far in 2010. Spain is down 21.06% in local currency year to date, but it's down 32.36% in dollar terms. It's been a tough, tough year already for Spain. Italy is down the second most in dollars of the countries highlighted at -28.22%. China, which pegs its currency to the dollar, is down 18.96% in yuans this year, which is the second worst when looking at local currency performance. Mexico and Malaysia are the only two countries that are up year to date in dollars. Sweden is the only country up in local currency. Finally, Germany is the fifth worst country year to date in dollars, yet it's the second best in local currency. Oh the Euro. Don't worry Germany, the US can certainly feel your pain."
The Philippine Phisix as of Friday's close was up 6.55% both in local currency and US dollar terms, that's because the Peso has almost been unchanged at 46.19 where at the end of 2009 it was at 46.2. This should make the Phisix one of the top performers.
While it is true major markets are down, this seems hardly a replica of 2008.
The table, from Bespoke, is calculated in US dollar and local currency terms, but ranked according to returns based on the US dollar.
According Bespoke,
``European equity markets look much worse in terms of dollars given the weak performance of the Euro so far in 2010. Spain is down 21.06% in local currency year to date, but it's down 32.36% in dollar terms. It's been a tough, tough year already for Spain. Italy is down the second most in dollars of the countries highlighted at -28.22%. China, which pegs its currency to the dollar, is down 18.96% in yuans this year, which is the second worst when looking at local currency performance. Mexico and Malaysia are the only two countries that are up year to date in dollars. Sweden is the only country up in local currency. Finally, Germany is the fifth worst country year to date in dollars, yet it's the second best in local currency. Oh the Euro. Don't worry Germany, the US can certainly feel your pain."
The Philippine Phisix as of Friday's close was up 6.55% both in local currency and US dollar terms, that's because the Peso has almost been unchanged at 46.19 where at the end of 2009 it was at 46.2. This should make the Phisix one of the top performers.
While it is true major markets are down, this seems hardly a replica of 2008.
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