By Lachman Balani
TORONTO: Talking about world markets in 2017, Bitcoin was the biggest star of last year.
But first off, the tiny robust business and finance enclave of Hong Kong beat all others by jumping a whopping 36% to stand out as the stock star of 2017!
Next was Nasdaq, stumping many famous US economists who had claimed that despite the Trump-bump of 2016 after his election in November, 2017 would be subdued due to the uncertain nature of Trump and his socio-economic policies.
Not only did Nasdaq jump 28 percent, but even the hallowed Dow Jones and S&P500 showed impressive double digit gains setting record after record and reaching new highs. The Dow experienced the most 1000 point leaps ever going from 19762 at the close of last year to 24719.22 at the close of 2017.
BRICS countries India and Brazil (despite its many economic woes) came in 3rd and 4th manifesting double-digit gains.
Japan and South Korea, known for household brands like Sony, Toyota, Honda, Sharp, Samsung, Hyundai, Daewoo, KIA, LG and more, also saw double-digit gains.
The DAX and CAC in Europe and FTSE of the UK also gained territory.
Back home in Canada, the TSX was the weakest gainer at only 6%.
The SSE composite of China gained by 6½ %.
Russia and South Africa lost ground.
Gold saw a solid increase as well going from US $1152 to US $1307 an oz experiencing an upside of 13.45%.
Oil went from approximately USD 53 to USD 60 also experiencing a double digit increase.
Of course, nothing can beat the rise of Bitcoin, the biggest star of last year in world markets, but that is another story.