In a drastic reversal of fortunes, the stock markets of developed countries such as Japan and the United States were big winners in 2013, while stock markets of most developing countries — previous top performers in 2012 — barely rose with some even registering negative returns.
Japan’s Nikkei 225 index, for example, was the world’s 4th best stock market in 2013, surging an unprecedented 56.72% in the past 12 months ending December.
The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve announced yesterday, June 19, that if the U.S. economy continues to improve, it will start winding down its asset-buying program and may completely end it by mid-year of 2014.
The news sent stock markets in the United States down by more than 1 percent, with the Dow Jones industrial average (DJIA) closing 205.96 points lower, or 1.34%, at 15,112.27.
The Standard & Poor’s 500 Index (S&P 500), meanwhile, closed 1.39% lower at 1,628.92, while the Nasdaq Composite Index was down 1.12% at 3,443.20.
The bullish trend in Philippine stocks continued today as the benchmark Philippine Stock Exchange index (PSEi) closed at a new all-time high level of 5,218.97.
The index rose 14.14 points or 0.27% from yesterday’s trading primarily due to the upbeat performance of Wall Street hours earlier and optimism over a possible gas find by Philex Mining Corporation (PX) the country’s largest mining company.
Decliners outnumbered gainers, 102 to 79, with more than 5.405 billion shares valued at P7.616 billion traded in today’s transactions.
Today’s highest gaining stocks are as follows:
A coordinated response by the world’s leading central banks to the Eurozone crisis led U.S. stocks to score their biggest daily percentage gains yesterday (November 30), with three benchmark indices ending with at least a 4% gain.
The Dow Jones Industrial Average (DJIA) closed at 12,045.68, up 490.05 points or 4.24%. It was the Dow’s biggest one-day gain since March 23, 2009.
The S&P 500 also surged, ending the trading day up 51.77 points, or 4.33%, to 1,246.96. It was the S&P’s highest daily gain since August 11, 2011.
The tech-heavy Nasdaq Composite Index also soared yesterday closing at 2,620.34, up 104.83 points or 4.17%.
Is the “Ghost Month” to blame for the recent rollercoaster ride in stock markets around the world?
During the first two weeks of August, stock markets worldwide had a freefall, went back up again, slid again, then back up once more. The Dow Jones Industrial Average (DJIA), for example:
And it’s probably just starting.
