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By Christine Gaylican, Opalesque Asia:
Emerging markets led by China spoiled the overall gains made in August-09 as 38 of the 46 markets were up for the month posting a 3.73% growth for global markets, a recent report by Standard and Poor’s “World By Numbers” indicated.
‘’August was another positive month for investors as world equity markets posted gains year-to-date, with 14 up at least 50% and another 22 markets up more than 25%,’’ S&P Senior Index analyst Howard Silverblatt said in the report obtained by Opalesque.
All 10 sectors recorded positive results, financials strongly on top with an 8.04% monthly gain, followed by Industrials (+4.55%) and Utilities (+3.25%). Meanwhile, Energy was at the bottom posting a 1.43% gain, and is the only sector with a negative 3-month return (-0.4%).
This is a significant development for investors expecting a slower and more painful recovery in the world financial markets.
Developed markets did better in August
Developed markets did much better in August, posting a 4.23% gain despite a large decline by Hong Kong (-6.45%). Austria (+15.95%) and Belgium (+10.83%) were particularly noteworthy for their strong double-digit gains.
The United States ranks 42, with a 15.10% YTD return, which explains the YTD global return of 22.95%.
Developed markets did much better in August posting a 4.23% gain despite a large decline by Hong Kong (-6.45%). Developed market performers were double-digit ...................... To view our full article Click here
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