By Jenne Mannion The FTSE one of the worst performing developed stock markets during the 1990s. Betw...
By Jenne Mannion
The FTSE one of the worst performing developed stock markets during the 1990s.
Between 1 January 1990 and 21 December 1999 the FTSE 100 rose some 177% in dollar terms. In comparison the Dow Jones Index in the US rose by 307% while Hong Kong's Hang Seng increased by 475%, and Japan's Nikkei 225 fell by 33%. Over the same period the Euroland's Datastream Market index rose by 160% in dollar terms while the Datastream World Market index grew 133%.
The results, from Primark Datastream Equity Markets Survey, revealed that the best and worst performing equity indices during the decade were both from the emerging markets.
Argentina's Merval index registered the strongest growth of all markets in dollar terms at 626%, while in comparison the Thai Bangkok SET fell by 66% over the same period. Mexico's IPC grew by 381% while Malaysia's KL Composite remained static in dollar terms over the same period. Indonesia's Jakarta Composite shrunk by 58% and Taiwan's Weighted index dropped by 31%, in dollar terms over the decade.
In 1999, from 1 January to 21 December, the FTSE 100 grew by 11%. The strongest growth in dollar terms was seen in Cyprus, where the General index grew by 586%, followed by the Istanbul 100 in Turkey at 206% and the Moscow RUR in Russia, which increased by 198%.
Over the same period the World's Datastream Market increased by 25% while Euroland's Datastream Market was up by 8%, in dollar terms.
The Dow Jones Industrial rose some 22% and Hong Kong's Hang Seng increased by 61%. Japan's Nikkei 225 was up 48%, a turnaround from its dismal performance over the decade as a whole.
The biggest losers over 1999 were Ecuador where the Interinvest shrunk by 65% in dollar terms and Kenya, where the Nairobi exchange fell by 35%.
Within the UK market itself, technology-related stocks produced the highest returns. IT hardware was up 654%, information technology was up 184%, and software and computer services increased by 144%.
Other winning UK sectors over the decade included steel and other metals which rose by 128%, while mining rose 115% and electronic and electrical equipment by 105%. Telecoms increased by 67%, resources by 47% and oil and gas by 38%.
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