AI Summary
A GCC market trading hall
Argaam monitors, in this report, the performance of main indices of global markets in 2023, covering about 109 indices, 84 of which moved up while 25 others descended.
The rise of most main indices last year was spurred by the imminent end of monetary tightening cycles by central banks. This is amid forecasts of the continued decline in inflation rates from 8.7% in 2022 to 6.9% in 2023 and 5.8% by the end of 2024.
The technology sector led the market rally, amid strong demand for shares of tech companies in line with the boom in artificial intelligence.
The report also highlights the main economic events that affected global s last year. market
This included several events that directly impacted trading movement in the markets, the most notable of which was the Fed fixing the interest rate for the third time in a row in mid-December 2023 and keeping it at the highest level of 5.5% after a series of increases that extended since March 2022. The US central bank is also expected to lower interest rates at least three times in 2024.
In addition, the downturn in brent crude prices directly hit trading movement in global markets. Brent crude ended 2023 trading down by 10% at $77.04 per barrel, weighed by oil production levels of major producers worldwide.
Best Performing Indices
Market indices of Zimbabwe and Argentina led the list of top performers in 2023, amid inflationary pressures. The list included the Egyptian Exchange main index EGX30, which took the sixth place globally after it rose 66% last year as a result of increased demand for the country’s stock market on the EGP’s continued decline against the US dollar.
|
Top Performing Indices |
||||
|
Global ranking |
Country |
Index |
DEC. 2023 Close |
Change |
|
1 |
Zimbabwe |
ZSE Industrial |
677877 |
+956% |
|
2 |
Zimbabwe |
ZSE Mining |
145542 |
+471% |
|
3 |
Argentina |
S&P Merval |
929704 |
+360% |
|
4 |
Venezuela |
Bursatil |
57832 |
+176% |
|
5 |
Cyprus |
Cyprus Main Market |
104 |
+66% |
|
6 |
Egypt |
EGX 30 |
24833 |
+66% |
|
7 |
Pakistan |
Karachi 100 |
62379 |
+54% |
|
8 |
US |
Nasdaq 100 |
16826 |
+54% |
|
9 |
Nigeria |
NSE 30 |
2790 |
+51% |
|
10 |
Vietnam |
HNX 30 |
495 |
+49% |
|
11 |
Zambia |
LSE All Share |
11068 |
+47% |
|
12 |
Russia |
Moscow Exchange index |
3099 |
+44% |
|
13 |
India |
Nifty Midcap 150 |
17077 |
+44% |
|
14 |
US |
Nasdaq |
15011 |
+43% |
|
15 |
Lebanon |
BLOM Stock |
1995 |
+41% |
|
16 |
Hungary |
Budapest SE |
60620 |
+39% |
|
17 |
Greece |
Athens General Composite |
1293 |
+39% |
|
18 |
Turkey |
ISA 100 |
7470 |
+36% |
|
19 |
Taiwan |
TPEx 50 |
259 |
+34% |
|
20 |
Poland |
WIG30 |
2908 |
+33% |
On the other hand, the list of worst performers in 2023 included six Arab indices that were affected by geopolitical tensions and oil price fluctuations, the most prominent of which was the Palestine Exchange’s most active Al Quds Index, which ranked sixth globally, with a decline rate of 8%, hurt by the ongoing war in Gaza since Oct. 7, 2023. Kuwait Premier Index followed, then the Muscat Securities Market Index that ranked eighth with a 7% drop.
Meanwhile, the Abu Dhabi Securities Exchang index ADI ranked 15th globally with a 6% slip. Meanwhile, Kuwait Bourse Main Index took 17th place with a pullback of 4%, while the Amman Stock Index ranked 20th.
|
Worst Performing Indices |
||||
|
Global ranking |
Country |
Index |
DEC. 2023 Close |
Change |
|
1 |
Uganda |
Uganda All Share |
873 |
(28%) |
|
2 |
Hong Kong |
FTSE China 50 |
10945 |
(15%) |
|
3 |
Thailand |
SET |
1416 |
(15%) |
|
4 |
Hong Kong |
Hang Seng Index |
17023 |
(14%) |
|
5 |
China |
SZSE Component |
9525 |
(14%) |
|
6 |
Palestine |
Al Quds Index |
589 |
(8%) |
|
7 |
Kuwait - Premier |
Kuwait Premier Index |
7477 |
(8%) |
|
8 |
Oman |
Muscat Securities Market |
4514 |
(7%) |
|
9 |
New Zealand |
NZX MidCap |
4981 |
(7%) |
|
10 |
Colombia |
COLCAP |
1195 |
(7%) |
|
11 |
Tanzania |
Tanzania All Share |
1751 |
(7%) |
|
12 |
Finland |
OMX Helsinki 25 |
4516 |
(6%) |
|
13 |
Slovakia |
SAX |
313 |
(6%) |
|
14 |
China - CSI |
CSI 1000 |
5887 |
(6%) |
|
15 |
UAE - Abu Dhabi |
FTSE ADX |
9578 |
(6%) |
|
16 |
Bangladesh |
DSE 30 |
2094 |
(5%) |
|
17 |
Kuwait - Main Market |
Main Market Index 50 |
5487 |
(4%) |
|
18 |
China - Shanghai |
Shanghai |
2975 |
(4%) |
|
19 |
Iceland |
OMX Iceland All-Share |
2124 |
(3%) |
|
20 |
Jordan |
ASE Index |
2431 |
(3%) |
The table below shows the performance of Arab and GCC indices in 2023:
|
Performance of Arab & GCC Indices in 2023 |
||||
|
Global ranking |
Country |
Index |
DEC. 2023 Close |
Change |
|
6 |
Egypt |
EGX 30 |
24833 |
+66% |
|
15 |
Lebanon |
BLOM Stock |
1995 |
+41% |
|
36 |
UAE |
DFM |
4060 |
+22% |
|
52 |
Saudi Arabia |
TASI |
11967 |
+14% |
|
54 |
Morocco |
MASI |
12093 |
+13% |
|
60 |
Iraq |
ISX Main 60 |
645 |
+10% |
|
67 |
Tunisia |
Tunindex |
8749 |
+8% |
|
69 |
Tunisia |
Tunindex20 |
3824 |
+6% |
|
72 |
Saudi Arabia |
MT30 Index |
1551 |
+6% |
|
75 |
Bahrain |
BAX |
1971 |
+4% |
|
80 |
Qatar |
QSI |
10831 |
+1% |
|
20 |
Jordan |
ASE Index |
2431 |
(3%) |
|
17 |
Kuwait - Main Market |
Main Market Index 50 |
5487 |
(4%) |
|
15 |
UAE |
ADX |
9578 |
(6%) |
|
8 |
Oman |
MSE Index |
4514 |
(7%) |
|
7 |
Kuwait - Premier |
Kuwait Premier Index |
7477 |
(8%) |
|
6 |
Palestine |
Al Quds Index |
589 |
(8%) |
The table below shows the performance of other global indices in 2023:
|
Performance of Other Global Indices in 2023 |
||||
|
Global ranking |
Country |
Index |
DEC. 2023 Close |
Change |
|
24 |
Japan |
Nikkei 225 |
33464 |
+28% |
|
27 |
Taiwan |
Taiwan Index |
17931 |
+27% |
|
29 |
South Korea |
KOSPI 50 |
2483 |
+25% |
|
31 |
US |
S&P 500 |
4770 |
+24% |
|
33 |
Spain |
IBEX 35 |
10102 |
+23% |
|
34 |
Brazil |
Bovespa Index |
134185 |
+22% |
|
37 |
Germany |
DAX |
16752 |
+20% |
|
38 |
India |
Nifty Index |
21731 |
+20% |
|
40 |
Germany |
Eurostoxx 50 |
4522 |
+19% |
|
41 |
India |
BSESN |
72240 |
+19% |
|
42 |
South Korea |
Kospi |
2655 |
+19% |
|
46 |
Sweden |
OMX 30 Index |
2396 |
+17% |
|
47 |
Mexico |
FTSE BIVA Real Time Price |
1183 |
+17% |
|
48 |
France |
CAC 40 |
7543 |
+17% |
|
53 |
US |
Dow Jones |
37690 |
+14% |
|
56 |
Netherlands |
AIX 25 |
787 |
+12% |
|
58 |
Russia |
RTS Index |
1083 |
+12% |
|
62 |
Austria |
ATX |
3435 |
+10% |
|
63 |
Norway |
Oslo OBX |
1194 |
+10% |
|
65 |
Canada |
S&P Canada |
20958 |
+8% |
|
68 |
Australia |
ASX 200 |
7591 |
+8% |
|
76 |
Switzerland |
SMI Index |
11138 |
+4% |
|
77 |
UK |
FTSE 100 |
7733 |
+4% |
|
79 |
New Zealand |
NZX 50 |
11770 |
+3% |
|
21 |
Malaysia |
Bursa Malaysia KLCI |
1455 |
(3%) |
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