The chart below highlights the recent performance bounces off 78 countries 52-week equity market lows. Its a good glimpse at which markets have recovered the most during the current relief rally, and those that have not done as well.
Hong Kong is up 46% off of its low just a few weeks ago. BRIC countries have nice bounces off their bottoms. Brazil is up the second most with a 34% increase, and India and China are both up 25%. Russia has been the weakest BRIC country with a gain of 19.5%. Of the developed countries, Japan's bounce is the most at 24%, then the United States (22%), the UK, and Germany (18.9%). Italy and Canada have had the weakest gains of 10.6% and 12.1% respectively in the G7 grouping. Also, not all equity markets have had recovery rallies in recent weeks. 11 of them are trading less than a percent from their 52-week lows.
Chart: Bespoke Investment Group
