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Year-end 2009: Leading the global recovery
The Chinese Year of the Ox did not disappoint; 2009 will be remembered for its bull runs.
Asia Pacific bourses gained 53% in 2009, reversing a similar-sized loss the year before. Two-thirds of this gain came from a strong first half. Leading the charge was China: it shot up 61% in the first half, and despite a sharp correction in August, ended the year up 76%. Indonesia and Taiwan each gained close to 90%, with both indices hitting new highs. Hong Kong and Singapore gained over 50% each, with the gains spread almost equally between the two halves. In contrast, over the same period, Australia’s All Ordinaries and Japan’s Nikkei increased relatively modestly by 33% and 24% respectively, and both the Dow and the FTSE gained only 19%.
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