Other Indexes 2007 & YTD

From my previous postings, we observed that US dropped the least compared to other markets like Asia and the smaller Europeans countries despite all the toxic orginated from these developed countries. Lets get into other region today like Latin America, Eastern Europe, Middle East and Africa today.

Russia - MICEX Index
1970 to 853 (Dropped 56.7%)
* It reached it peak of 1,963 on 21st May 08 but subsequently dropped to 853 on 09th Sep.
* Its a whopping 56.5% drop within a short time frame of merely 4 months
Turkey - ISE National 100 Index
58,864 to 30,971 (Dropped 47.4%)
Poland - WSE WIG Index
67,773 to 36,174 (Dropped 46.6%)
Hungary - Budapest Stock Exchange Index
30,118 to 17,876 (Dropped 40.6%)
Czech Republic - Prague Stock Exchange Index
1,944 to 1,137 (Dropped 41.5%)

United Arab Emirates - DFM General Index
6,315 (15th Jan 08) to 3,865 (Dropped 38.8%)
* The highest point for UAE was on 11th Sep 05 when it reached 8,525 points. Hence, based on 3 years track record, it had actually dropped 54.7%)
Qatar - DSM 20 Index
10,277 to 7,680 (Dropped 25.3%)
* The highest point in 2008 was 12,637 on 11th June. Hence, it actually dropped 39.2% in 2008.
* Within a short time frame of merely 3 months
Kuwait - SE Weighted Index
769 to 615 (Dropped 20%)
* Its highest point in 2008 was 817 on 12th Mar 08. Hence, it actually dropped 24.7% in 2008.
Saudi Arabia - Tadawul All Share Index
11,697 (12th Jan 08) to 6,885 (Dropped 41.1%)

Egypt - Egypt Hermes Index
980 (13th Jan 08) to 611 (Dropped 37.6%)
* Its highest point in 2008 was 1,033 on 5th Apr 08. Hence, it actually dropped 40.9% in 2008
South Africa - FTSE / JSE Africa Top 40
28,762 to 20,148 (Dropped 30%)
* Its highest point in 2008 was 30,960 on 22nd May. Hence, it actually dropped 34.9% in 2008.
Brazil - Bovespa Stock Index
66,528 to 43,766 (Dropped 34.2%)
* Its highest point in 2008 was 73,794 on 19th May 08. Hence, it actually dropped 45.1% in 2008.
Mexico - Bolsa Index
32,851 to 22,989 (Dropped 30.0%)
Chile - Stock Market Select
3,512 to 2,369 (Dropped 32.5%)
* The lowest point in 2008 was on 21st Jan and the highest point in 2007 was on 26th Oct.
* The drop of 32.5% all happened within a short time frame of 3 months

Some observations
* The oil and commodity rich country of Qatar, South Africa, Brazil and Russia seems to defy market downturn from Oct07 to May08 and continued its upwards trend. However Russia dropped over 56%, Brazil over 45% and South Africa nearly 35% within a short time frame of 4 months after their respective peak in May.
* The major Middle East and African indexes reaches their peak only in Mar to June 08 compared to Oct07 for the Asian and US Indexes and July 07 for the European Indexes.
* Some Indexes like UAE, Kuwait and Chile, are very unpredictable and don't seems to follow the general market sentiments.
* It shows that some countries in Eastern Europe, Latin America and Middle East do show negative corelation with the Developed Markets like Europe and US during some part of the 2008. However, in general, all dropped to the same level as the US as of today.