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Worst-Ever May For MSCI World Index
By Paul Amery | June 01, 2010

According to analysts at Societe Generale, last month was the worst-ever May for the MSCI World equity index.

The index fell almost 10 percent in dollar terms, according to Andrew Lapthorne of the French bank’s quantitative research team, its worst month since February 2009 and its worst May since the index began back in 1970.

The weak euro was a significant contributor to the world index’s poor return, according to Lapthorne’s team, with the MSCI Euro Index losing 14.3 percent in U.S. dollar terms, its fourth-worst month since the euro’s creation back in 1999.

While within Europe, Greece (-19 percent), Ireland (-13 percent) and Spain (-11 percent) all suffered double-digit losses, Asian bourses were also badly hit. China’s Shanghai “B” index fell 16 percent in May, while the CSI 300 Index of equity “A” shares declined by just under 10 percent. This brings cumulative losses in the CSI 300 Index to 26 percent from the high recorded in August 2009.

Japan suffered its worst decline since October 2008, with the Nikkei 225 Index falling 11.6 percent in May. And the Asia-Pacific ex Japan Regional Index lost 14.3 percent in U.S. dollar terms, with the 9 percent decline in the Australian currency over the month a significant contributor to the fall.

This article originally appeared on IndexUniverse.eu, the sister site to IndexUniverse.com in Europe.

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