Colombo (Sri Lanka): +95.5%. The peace dividend.
The ASPI Index doubled its value in 2009. Analysts attribute it to the 'peace dividend'. The end of the civil war in this financial year has been crucial and the cherry on the cake of eight years of economic growth. Shares in tourism companies have rocketed and infrastructure companies have performed well on the stock market in the face of prospects of reconstruction work after the conflict. A good year for a small stock market which could be bought for 9,000 million dollars.
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Shenzhen (China): +117.1%. The head of the giant.
One of China’s three stock exchanges, alongside Hong Kong’s and Shanghai’s. The year 2009 has been the prelude to what is hatching: the arrival of European and American investors with all their artillery.
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Buenos Aires (Argentina): +103.5%. The best Latin American.
The eighth worst performing stock exchange in 2008 (-50%) has recovered this well in 2009, as a result of increased internationalisation of stocks and their return to quotations more in keeping with their real value.
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4.- Lima (Peru): +100.9%. A prominent emerging economy.
The General Index of the Lima Stock Exchange topped this 'Ranking' until the last quarter of 2009. The reasons behind the success were those common to emerging economies, a weak dollar and strong speculation in the stocks of mining companies.
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5.- Istanbul (Turkey): +96.6%. A matter of confidence
The year 2009 did not begin well for the IMKB-100, but started to pick up in March pushed by international markets and investors’ confidence in the country’s economy.
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6.- Bombay (India): +90.2%. Goodbye to former losses.
The rise of the BSE 500 in 2009 can be explained by a turnaround after a very negative 2008 (-56%), international confidence in the growing Indian economy and a favourable monetary policy.
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7.- Bombay (National Stock Exchange of India): +88.6%. On the trail of the BSE.
Another Indian index, the S&P CNX 500, which represents 92.57% of the capitalisation of the NSE market, climbs to the seventh place. On the trail of the BSE 500 and practically for the same reasons.
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8.- Jakarta (now the Indonesian Stock Exchange): +87%. Spurred on by policy.
The Indonesian Stock Exchange has benefitted from practically the same effects as the Indian Stock Exchange, as well as from government policies aimed at encouraging long-term growth, such as those related to infrastructure.
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9.- Sao Paulo (Brazil): +82.6%. Strong and recession-free.
Foreign investors have chosen the Brazil Stock Exchange as one of their favourite destinations, particularly attracted by the recovery of the local economy, the third G20 country to come out of the recession.
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10.- Shanghai (China): +79.9%. China’s second best.
The Shanghai Composite Index brings together 872 companies and is used as a reference of the Chinese local market. In 2009 it reflected the performance of the country’s economy and recovered from the losses hanging over it since 2007.
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