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Top 5 stock markets in 2017

Top 5 stock markets in 2017
Mubasher: As the end of the year approaches, a recent report by CNN Money listed the top five stock markets in the world in 2017.
 
The list was unsurprisingly topped by the New York Stock Exchange (NYSE), which reached a new all-time high this year.
 
Here, we talk a look at the five exchanges that performed the best during the last 12 months, during which the value of public companies on global stock markets grew by $12.4 trillion.
 

1. The United States of America
 
Investors’ appetite was encouraged by a strong economic growth, with solid corporate earnings and hopes that the new legislative reforms including the tax cuts would help boost the market.
 
The Dow Jones industrial index rose by 25%, while S&P 500 surged 20%, and Nasdaq jumped 29%.
 
 
 
 
2. Argentina
 
The country’s economy has improved under President Mauricio Macri, who was elected in 2015.
 
A number of economic reforms have helped boost business confidence and encourage more investments, which really helped the stock market, despite the high inflation rate and the weak local currency.
 
Merval, the main index of the Buenos Aires Stock Exchange (BCBA), rose 73% this year and hit a new record high the day after Christmas, after gaining 45% in 2016.
 
 
 
 
3. Nigeria
 
The Nigerian Stock Exchange (NGSE) All Shares Index has performed quite well in 2017, however, it was not the best year for Nigeria’s bourse, as this year’s levels are still below record highs set in early 2008.
 
The main index of NGSE rose 43% in 2017, after suffering in the previous two years due to the fall of oil prices and the security challenges.
 
The market is forecasted to maintain gains in 2018.
 
 
 
 
4. Turkey
 
Tax cuts and financing facilitations have helped boost the business sector, after the political unrest and a series of terror attacks cast shadows on the Turkish economy in 2016.
 
Turkey’s benchmark index went up 43% in 2017, with the economy seeing a rising economic growth that reached 11% in the third quarter of the year.
 
However, experts are warning that the good times for Turkey cannot last forever, with analysts noting that the Turkish economy is getting close to overheating.
 
 
 
 
5. Hong Kong
 
The Hang Seng index rose by nearly 35% this year, and analysts believe that Tencent deserves a lot of credit for the market gains.
 
The stock of the Hong Kong-listed tech giant more than doubled over the past year, as the value of Tencent recently exceeded Facebook.
 
 
 
 
Qatar is 2017 biggest loser
 
On the other hand, the Qatar Exchange dropped more than 19%, with the Arab boycott proven to be a huge hit to Doha.
 
Despite gains seen by many of the blue chip stocks, the market performance was in general negative in 2017.
 
Earlier this year, Saudi Arabia, Egypt, the United Arab Emirates, and Bahrain decided to cut diplomatic ties and transport links with, accusing the Qatari government of funding and supporting terrorist groups and destabilizing the region.