Statistics shows that a total of 32 stock markets suffered over 50% in losses in 2008, 17 of which lost their accumulated growth from the previous five years. The Shanghai Composite Index ranked 13th amongst them with a fall of 65.39%.
After a year-long adjusting period, the valuation indicators of A-shares reaches the standard of indicators in the global major stock markets.
Data from cnyes.com on January 1, 2008 showed that only the Ghana and Tunisia stock markets rose in 2008 among the 73 stock markets in the world, up 58.71% and 10.65% respectively.
The other stock markets all declined, with an average decline of 46%. The eastern and northern European stock markets suffered great losses, especially in Iceland whose 94.41% drop was the largest in the world.
There were declines of 79.71% in Bulgaria and 77.74% in Cyprus. In addition, stock markets in Ukraine, Russia and Romania also saw drops of over 70%.
The stock markets of developed countries suffered smaller declines. The Nikkei Stock Index had a 42.12% decline, ranking 46th in losses. The Dow Jones Index ranked 59th with a drop of 33.84% and the Financial Times Ordinary Shares Index was 63rd with a decline of 31.33%.
Following the declines in 2008, a number of stock markets eroded their accrued profits accumulated over the years. According to relevant statistics, as of today, stock markets in 17 countries and regions have seen no growth compared with what was five years ago.
Among the countries, Iceland's 5-year losses reached a stunning 83.3%, Norway 68.19%, and Ireland 52.38%. In addition, the major stock markets including Japan and the US saw a downward trend over the past five years.
The stock markets of 17 countries and regions including developed markets in the US, Japan and Europe also saw no increases over the past 10 years. Despite the ups and downs, the Shanghai Composite Index managed to achieve a 21.63% rise over the past 5 years, even reaching as high as 58.79% in the past 10 years.
By People's Daily Online
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