Below we highlight the recent gains off of 52-week lows for the equity indices of 78 countries. This provides a good look at which countries have come back the most during the rally, and which ones have lagged.
As shown, Hong Kong has been on fire with a gain of 46% off of its low just a few weeks ago. BRIC countries have also been doing well. Brazil is up the second most of any country at 34%, and India and China are both up 25%. Russia has been the weakest BRIC country with a gain of 19.5%. Of the G-7 countries, Japan has bounced the most at 24%, followed by the United States (22%), the UK, and Germany (18.9%). Italy and Canada have been the weakest G-7 countries with gains of 10.6% and 12.1% respectively. And not all countries have rallied in recent weeks. Fourteen percent of them are trading less than a percent from their 52-week lows.
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