Thursday, January 28, 2016/ 7.20am / The Nigerian Investor, firstname.lastname@example.org
Stock markets around the world start the year 2016 on a bearish note. Considering the heavy losses that permeated most markets in the first week of the year, our focus on the first episode of The Nigerian Investor was on whether stock markets will close 2016 bearish?
In that episode, we cited the incidence in China’s Stock Market as it dropped about 7% twice in the first two weeks of 2016. The second drop recorded triggered losses in stock markets across Europe, Asia and America as the Dow Jones Industrial Average dropped about 300 basis points on a specific trading day.
Currently, the moods in the markets remain bearish as more losses are being recorded. Markets across the globe continue to trade in the red zone as economic uncertainties due to drop in oil price continue to be a major factor.
A closer look at the YTD performance of global markets reveals that the Chinese Stock Market recorded the highest loss of -18.93% as at 26th January, 2016. Nigerian Stock Market follows closely with -16.69% YTD loss while other developed markets such as UK, USA, Germany and France are not left out.
Also, a look at the market performance in Africa revealed similar trend except for Tunisia and Ghana Stock Exchange which recorded +5.66% and +0.48% YTD gains respectively as at 26th January, 2016. Egypt, Zimbabwe, Namibia and the Johannesburg Stock Exchanges are the worst hit among African Exchanges.