Equity markets fluctuated due to central banks’ monetary policy tightening moves in response to rising inflation and growing recession fears, while global benchmark indices ended the last 12 months with gains.
Argentina’s main Merval index is up 382% in the year since the end of June 2022 as investors hedge against an annual inflation rate of more than 100% and a weak peso.
In the same period, the MERVAL index became the most profitable local currency-based index among the world’s leading indices.
And on the Istanbul Stock Exchange, it made up for losses after the deadly earthquakes in February with the re-election of President Recep Tayyip Erdogan in June.
The BEST 100 Index, which ended June at an all-time high of 5,759.11 points, ranked second, behind only Argentina, and was up nearly 140% in Turkish lira.
Germany’s DAX is up more than 26% in the year since June 2022, while Japan’s Nikkei 225 is up about 26%.
The New York stock market posted gains despite downside risks such as a banking crisis, a debt limit dilemma, and recession fears fueled by interest rate hikes by the US Federal Reserve to curb soaring inflation.
While the Nasdaq was among the high-yielding indices with a gain of nearly 25%, the S&P 500 was up 17%, and the Dow Jones was up more than 11%.
