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The top global stock markets of 2017: Argentina, Nigeria, Turkey, Hong Kong

How high will the stock market go in 2017

US stocks were on a first-class trip into record territory in 2017. But they weren’t alone.

the value of public companies on world stock markets grew by 12.4 trillion dollars in 2017, according to the s&p dow jones indices, which included dividends in their calculation. several markets even outperformed the us. uu.

Here’s a look at the biggest stock market winners of 2017:

united states

united states stocks were front and center as investors bet on strong economic growth, strong corporate earnings and hopes that president trump would roll back regulations. Trump also boosted the markets with a big corporate tax cut.

the dow jones industrial average soared 25%, the s&p 500 surged 19%, and the nasdaq big tech index outshone them all with an impressive 28% gain.

global stock markets 2017

Argentina

Argentina’s merval index increased 77% this year and reached an all-time high in the last week of 2017.

the election of president mauricio macri at the end of 2015 turned out to be a turning point: the economy is growing and stocks have recovered strongly. the merval rose 45% in 2016.

Macri carried out a series of economic reforms this year, which helped further boost business confidence.

“President Macri managed political risks well in 2017 and, with no elections scheduled for 2018, Argentina stands out as a political safe haven in Latin America for the coming year,” said asset management firm Algebris Investments.

Still, there is more to be done: inflation is above 20% and the currency continues to weaken.

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best stock markets 2017

Global investors have been bullish in 2017, leading to big stock market gains in countries like Argentina, Nigeria and Turkey.

nigeria

The Nigerian Stock Index is still well below the all-time highs set in early 2008, but a 42% rally in 2017 has helped close the gap.

The index suffered badly in 2015 and 2016 when low oil prices, militant attacks, currency problems, elections and Ebola affected investor confidence.

But oil prices have risen, the central bank has made it easier to trade currencies, and the economy has come out of recession, explained zin bekkali, founder and CEO of silk invest.

Many analysts are optimistic that the stock could continue to rise in 2018.

“If you look at our current position, the [Nigerian] market is still one of the cheapest markets on the planet,” said Bekkali.

turkey

An attempted coup in 2016 and a series of terrorist attacks sent chills down the Turkish economy.

However, the country’s benchmark rose 48% this year as the government implemented temporary tax cuts and a loan guarantee program that encouraged banks to lend to small businesses. GDP growth soared, reaching 11.1% in the third quarter.

The performance of the stock market was also helped by the fall in the Turkish lira, said neil shearing, chief emerging markets economist at capital economics.

Now experts are warning that the good times can’t last forever.

“Going forward, we think the economy is about to overheat,” said daniel salter, global head of equities at renaissance capital.

hong kong

the hang seng advanced 36%, but mainland china indices in shanghai and shenzhen faltered.

why the disparity?

it’s all about tencent (tcehy), said dickie wong, head of research at kingston financial group.

Shares of the Hong Kong-listed tech giant have more than doubled over the past year and the company’s valuation briefly eclipsed that of Facebook (FB).

wechat, the company’s popular mobile messenger, has nearly a billion users, and investors have applauded forays into mobile gaming and video streaming.

Meanwhile, the shanghai and shenzhen markets have languished after state media convinced local investors to be cautious, wong said.

biggest loser: qatar

While most major stock markets posted sizeable gains, the rising tide did not lift all boats.

the gulf nation qatar’s stock market fell 18% amid a dispute with its neighbors: saudi arabia, bahrain and the united arab emirates.

his decision to sever diplomatic relations and transport links with qatar in June took the region by surprise.

the nations accused qatar of financing terrorism, a charge it denies. efforts to restore ties have so far failed.

qatar has found alternative strategies and different trade routes to get ahead, shearing said.

“much of the initial economic shock has faded,” he said. “It doesn’t look like [this] will be resolved quickly, but it also doesn’t look like it’s doing great damage to qatar’s economy.”

correction: An earlier version of this article spelled the name zin bekkali incorrectly.

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