Author | South China Soros
Produced by Zhigu Trend | ID: ZGTREND
Although Da A is still in a 3,000 -point defense war, since this year, the capital markets of 15 major economies around the world have risen new highs.
Including the United States, the United Kingdom, India, Japan, Singapore, India and Taiwan Province … Even in Russia in the war, the stock index broke the record in April this year.
In the spread of war fires, the capital markets of Ukraine, Israel and Palestine also rose to varying degrees, bringing a trace of comfort to nationals with deep water.
Even Kazakhstan, which we usually don’t pay attention to, Greece, who has been in economy for a long time, is rising.
The global bull market that appeared since the end of 2022 has proven its tenacious vitality, and has repeatedly reached a record high as a pocket, completely subverting my cognition.
Why are they so good?
In the past 8 months, the keywords of the global stock market are "innovation high" and "rising", which has increased by 26%.Bangalore Wealth Management
From New York, USA to Taipei, India, countless yang lines have formed a huge curtain wall, witnessing the temperature difference between the world.
In North America, technology stocks are becoming the strongest engine to drive US stocks.
In the first quarter, Nvidia soared 83%, leading the S & P rise by 10%, the largest quarterly increase since 2019.
In the second quarter, the gains further expanded.On July 4th in the Eastern Time, the Tesla collar running technology sector, which increased by more than 10%, reached a new high.
The material and energy sectors have become the main momentum of the Canadian stock market.Starting from Wednesday, the major Canadian stock indexes have risen for five consecutive days and have touched the highest level this year.
The performance of the European market is even better.
After five quarters of stagnation, the euro zone economy has returned to growth.Britain, Germany, France, and Greek stock markets have reached a record high.
As of May this year, the Pan -Ost 600 Index and the European Stock 50 Index increased by 10%and 14%, respectively.A report from Goldman Sachs said that the European stock market is steadily going towards a record high.
After the capital market of the developed Asian economy is unwilling, as of July 4:
Singapore’s main stock index "Strait Times Index", after experiencing the rise of four consecutive trading days, close 3439.88 points, setting a new high in more than two years;
The Tokyo stock market, which is bathing in the economy, has ushered in a five -day rise in a row. The average stock index of the Nikkei was closed at 40913.65 points, which once again refreshed a record high.The Topix Index (TOPIX) has also exceeded the highest value of the foam economy, which is the first time in about 34 and a half years;
The Seoul Composite Index in South Korea has risen by 1.11%, which has touched a new high since January 2022;
India’s Hong Kong stock market has also continued to strengthen, and 60 stocks have reached a new high in nearly 52 weeks;
India’s Taiwan stock market closed at 23522 points, a record high.
Even the capital market in Russia and Ukraine in the regional turbulence has performed brightlySurat Investment!
On April 1, the Moscow Exchange Index rose 0.77%to 3360.03 points, refreshing the highest point since February 2022; the Ukraine stock market has risen by 17%at the beginning of this year.
On Tuesday, the Israeli stock market closed up, and the Traviv TA35 index rose 0.55%.The financial sector of Palestine even led a large market for a while.
The performance of the emerging capital market is also full of energy:
The fiercest is India.There are more than a thousand languages floating on the street with a cow dung and Masella. There are more than a thousand languages scattered on the 3.29 million square kilometers of land. The number of extreme weather far exceeds Hong Kong.The lower limit behavior refreshed our cognitive India, but continued to break through the upper limit of the capital market:
On July 3, the Sensex 30 index broke through the 80,000 -point mark for the first time;
The Indian stock market has risen for 8 years;
In the past 20 years, the market value of the Indian stock market has been 20 times, and the proportion of "double shares" in the market is as high as 54%.
What is this concept?As long as the face is not too dark, you can make money when you buy your eyes closed in the Indian stock market.
As for the Southeast Asian economy, although it is not as scary as India, it is also remarkable.
Earlier this year, the global fund bought Thai stocks crazy, the number of the highest level in the past year.A large influx of foreign capital has stabilized the Thai stock market.Closing on July 4, the Thai stock market rose 1%.
On Tuesday, the Philippine stock market has reached the largest increase in the past year; on the same day, the Vietnamese stock market reached a new high.
Continue to north, Central Asia’s leader Kazakhstan stock market reached a record high in March this year.As of the closing of July 4, the Turkish Istanbul index also rose nearly 2.3%.
As for the reasons for this round of bull market, most economists and analysts attribute it to the economic prospect of growth and stability.
International research institutions Patek Investment Guard pointed out that the risk of inflation seems to have weakened. Although the valuation of global stocks seems a bit high, due to the improvement of corporate profit prospects and the possibility of interest rate cuts, it is still optimistic about the global stock market.
The global major capital market toured, and a poem of Sartre flashed my mind:
"Ancient nights and distant music are eternal, but not me."
Many people are thinking, why can A shares always get out of independence?If it is understood in accordance with the classic "stock market is the economy of the economy", the performance of the Indian stock market may be more suitable for measuring the Indian economy that has increased by 33.5 times in 40 years (calculated at the same price).
Obviously, the special constitution of Big A is not an economic fundamental or general financial model, which can be explained.
In fact, looking at the capital markets that are rare, behind those chaotic systems and history, their commonality is the core of barbaric growth.
These capital markets often experience the process from chaos to governance.
The western capital market was initiated in the Netherlands. At that time, the Dutch merchants with the temperament of the explorer began to conduct stock transactions outside the court.Since then, businessmen in London and North America have created the prototype of the early capital market in order to make the transaction more convenient.
Most of the capital markets in Japan, India and the world are mostly established in this prototype.
There are stock transactions first, and then the stock market, which is the development path of most capital markets.To a certain extent, this ensures that the assets of the on -site transactions are liquid.But the Indian stock market is an exception.Wu Xiaobo wrote in the article:
"The birth of the Indian stock market itself has a lot of innate deficienciesIndore Investment. At the beginning, the stock market was positioned as a financing service for state -owned enterprises and tilted to state -owned enterprises …State -owned enterprises … will soon fall into trouble again … The immature regulatory mechanisms will make all the unprecedented hype flying all over the sky. "
– "Farewell to" Flowers of Evil ""
Of course, we must admit that there is no mechanism that is perfect at the beginning of its birth.Even the most loyal fans of market liberalism, after experiencing a fierce lesson of the financial crisis, have to admit this.
Therefore, a successful capital market is the most important thing is to have an effective self -correction mechanism, and its establishment is a painful and complicated process.
Take India. As early as the late 1980s, there were more than 6,500 listed companies across India.In 2023, the number of IPOs in the Indian stock market ranked first in the world for 220, an increase of nearly 50%year -on -year.
With such a huge amount of listed companies, the asset quality of Indian stocks is definitely uneven.
The Indian stock market found its own redemption in the listing review and delisting system.
In 1992, the Indian government’s heart was horizontal, abolishing the control of the frequency, price and scale of the issuance of new shares, and established a distribution system based on the registration system.
At the same time, India began to implement a rigorous delisting system and expelled the mediocre companies out of the market.
In terms of the delisting system, the Nasdaq, the New York Stock Exchange and the AFC have adopted a voluntary and mandatory delisting, and each has its own emphasis on the standard formulation. India also focuses on the company’s actual influence on the market.Governance has higher attention.
Whether it is the U.S. stock market or the Indian stock market, a strict "high -voltage line" has been formulated in the delisting system.
According to this standard, because of serious financial fraud, a pharmaceutical company that recently picked up the star hats did not have the opportunity to return to the capital market at all.
From 2000 to 2023, a total of 3,267 companies were listed on the India Mumbai Exchange.During the same period, Yin stocks retreated 3305 companies.
In 23 years, India’s Mumbai Exchange actually has 38 companies.
Source: BSE, Wind, Shen Wanhongyuan Research
In comparison, in 2000, the Shanghai and Shenzhen cities added about 1,000 companies.What about today?There are 5,000.
Sometimes, one of the simplest numbers is enough to think deeply.
The middle class must adjust the expectations.The property market rescue, geographical relationships, and changes in the whole society all affect the decisions of each of us.
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