Hong Kong stock market sets the pace with 36% increase!

–Lachman Balani

Amongst the most watched stock market indices in the world, the tiny robust business and finance enclave of Hong Kong won out over all others by increasing a whopping 36% to stand out as the stock star of 2017!

Next followed Nasdaq in the US stumping many revered US economists who had at the outset claimed that despite the Trump-bump of 2016 after his election in November, 2017 would be subdued due to the uncertain nature of Trump and his socio-economic policies .However, not only did Nasdaq jump 28% but even the hallowed Dow Jones and S&P500 showed impressive double digit gains setting record after record and reaching new highs. The Dow experienced the most 1000 point leaps ever going from 19762 at the close of last year to 24719.22 at the close of 2017.

BRICS countries India and Brazil (despite its many economic woes)came in 3rd and 4th manifesting double digit gains.

Japan and South Korea, known for household brands like Sony, Toyota, Honda, Sharp, Samsung, Hyundai, Daewoo, KIA, LG and more also saw double digit gains.

The DAX and CAC in Europe and FTSE of UK also gained territory.

Back home in Canada, the TSX was the weakest gainer at only 6%.

The SSE composite of China gained by 6 ½ %. Russia and South Africa lost ground.

Gold saw a solid increase as well going from US $1152 to US $1307 an oz experiencing an upside of 13.45%.

Oil went from approximately USD 53 to USD 60 also experiencing a double digit increase.

Of course nothing can beat the rise of Bitcoin, the biggest star of last year, but that is another story.

Here is how the most watched bourses fared last year from the close of 2016 to the close of 2017.

Bourse Dec 2017 Dec 2016 % change

HangSeng (Hong Kong) 29919.15 22000.56 +35.99%

Nasdaq (US) 6903.39 5383.12 +28.24%

BSE (India) 34056.83 26626.46 +27.90%

Bovespa (Brazil) 76402.08 60277.29 +26.75%