NEW YORK
Equity markets fluctuated due to major central banks' monetary tightening steps in response to surges in inflation, persistent geopolitical risks, and growing recessionary concerns, while world benchmark indexes ended the last 12 months with gains.
Argentina's flagship Merval index has soared 382% in the year since end-June 2022 as investors hedged against an annual inflation rate of over 100% and a weakening peso.
The Merval index became the most profitable index on a local currency basis among the world's leading indices in the same period.
On Türkiye's Borsa Istanbul, losses after February's deadly earthquakes were made up for after the reelection of President Recep Tayyip Erdogan in June.
The Borsa Istanbul was closed for five days due to the strong earthquakes that hit southern Türkiye on Feb. 6, which also triggered the selloffs.
The BIST 100 index, which ended June at an all-time high of 5,759.11 points, ranked second, behind only Argentina, with a rise of nearly 140% in Turkish lira terms.
Germany's DAX index jumped more than 26% in the year since June 2022, while Japan's Nikkei 225 index increased by nearly 26%.
The New York stock market posted gains despite downside risks such as the banking crisis, the debt limit dilemma, and recession concerns fueled by interest rate hikes by the US Federal Reserve to rein in high inflation.
While the Nasdaq index was among the high-yielding indices with a rise of nearly 25%, the S&P 500 index climbed 17% and the Dow Jones index ticked up by more than 11%.
On the other hand, China's Shanghai index has lost nearly 6% in yuan terms in the past 12 months and the Hang Seng index fell more than 13%.
