Country Total Returns Since March 2003

The MSCI World index, which measures global equity market performance, is now up just 68% (not total return) since its bottom on March 12, 2003.  After analyzing the performance of various country indices since then, we found some interesting results.

Since the 3/12/03 global market bottom, Brazil, India and Mexico all have total returns of more than 400%, with Brazil leading the way at 427%.  Germany has been the best performing Western European country with a total return of 187%.  At the bottom of the barrel is Japan, with a gain of 68%, but unfortunately the US ranks second to last at 77%.  So while much has been made of how well the US has held up during this downturn, it still lags behind pretty much everyone else when looking at the last bull and the current bear.  The most surprising performance number comes from China.  After its bubble and bust from 2005 to present, China's performance is pretty much right inline with the US at 79%.  With so much focus on China's growth this decade, one would think its equity markets would be at the top of the performance ladder with other BRIC countries.

 

Comments

[dj]

Do it in real dollar terms, hint use ewa,ewc,ewz....so sweet, but spx in dv usd are so.......

[Anish]

While calculating China's performance, which Index have you used; the A share Index? The A share market is pre-dominantly open only to domestic investors and hence is not the best gauge of market performance. It is better to use the MSCI China Index or the Hang Seng China Enterprises Index while calculating market performance. If you take HS China Enterprises Index, you will see that in the last 5 years (since 27 Aug 03), the Index returned approximately 264%.