Pakistan stock market has been included in the list for top 10 stock markets in the world, reports Khaleej Times. The list is based on the basis of returns. Typically, the US stock market remains the top business market in the world but recently Argentina, Russia and Pakistan are progressing massively. Interestingly all ten stock markets have had a better turnout than the US stock market leading it to be excluded from the list.
The Pakistani market lost 20 percent of its value in February and March but bounced back giving investors a 5 percent return on the yearly basis. Similarly, the Russian economy MICEX Index displayed a 23 percent increase after a big dip at the start of the year.
Argentina’s market made it to number one spot overtaking the US in the list of best stock markets. Khaleej Times states that Argentine economy is not displaying much strength but the stock market in Buenos Aires has increased by more than 30 percent over the year. This being the result of optimism brought about by upcoming elections in the country. The list of top stock markets is given below:
Argentina +30%Hungary +27%Jamaica +27%Iceland +26%Denmark +25%Ireland +22%Botswana +13%France +9% (down from 40%)Russia +23%Pakistan +9%
The rest of the countries that made it into the list had a number of factors contributing to the progressive stocks. Hungary’s new tax policy has been named as the cause of increase in stock market value. Jamaica asked for assistance from overseas citizens to invest in the country leading to a rise in stock returns.
Other European countries devalued their currencies which led to a faster recovery in the stock market compared to the rest of Europe. Ireland is currently on the rise thanks to a booming economy and the results are predictable in its stock values. The French stocks were doing great until the middle of August, but the recent global downturn took its toll. The Index was up nearly 40% but fell back to its current level of about 9% growth in 2015.
via Khaleej Times