MSCI: China Tops Charts As Best Performing Country Year-to-date
Chinese stockmarkets have soared ahead of other regions, according to the latest MSCI indices rankings, returning almost 50% year-to-date, more than double the MSCI ACWI return of 20%.
The latest report by MSCI, which looks at the best and worst performing indices on a monthly basis revealed Korea to be the best performing country for October, having returned 8.4%.
But China continues to be the best performer over three months (+9.5%), year-to-date (+49.1%), one (+41.3%) and three (+12.7%) years.
The country has also consistently outperformed the MSCI All Country World Index over these time periods.
Meanwhile, Switzerland was the worst performing country during October, down 1.7%, but Canada is the worst performer year to date, up by only 11.7%.
MSCI: European equity indices outpace Asian peers in September
The US continues to be the most expensively-valued country with an average forward P/E of 18.4, while the cheapest is Korea at 9.2. The ACWI has a forward P/E of 16.3.
In sector terms, the best performer was once again information technology in October (+7.1%), which is also the best performing sector year-to-date with a return of 40.8%.
The sector has also been the best performer over one (+40.7%), three (+19.1%) and five (+20.1%) years, followed during most of these periods by the consumer discretionary sector.
The worst sector last month was telecom services, having made a loss of 2.5%, but the worst performer year to date is energy, with a return of just 1.6%.
Returns and valuations
1 month | 3 month | YTD | 1 year | 3 years | 5 years | |
---|---|---|---|---|---|---|
Korea | 8.4 | 7.9 | 43.5 | 41.1 | 11.9 | 8.1 |
Japan | 4.6 | 6.7 | 19.9 | 18.2 | 10.2 | 12.3 |
China | 4.0 | 9.5 | 49.1 | 41.3 | 12.7 | 10.9 |
USA | 2.3 | 4.7 | 17.0 | 23.5 | 10.6 | 15.1 |
ACWI | 2.1 | 4.6 | 20.2 | 23.9 | 8.5 | 11.4 |
Germany | 1.5 | 7.4 | 26.9 | 30.8 | 9.7 | 10.6 |
France | 1.5 | 7.0 | 29.8 | 34.6 | 10.9 | 11.7 |
Austrailia | 1.4 | 0.2 | 14.1 | 17.4 | 1.7 | 3.9 |
UK | 0.6 | 3.2 | 16.4 | 21.7 | 1.8 | 5.0 |
Canada | -0.2 | 3.8 | 11.7 | 16.6 | 1.7 | 3.4 |
Switzerland | -1.7 | -0.6 | 19.4 | 21.4 | 4.5 | 9.4 |
Valuation ratios as of 31 October 2017. Source: MSCI
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