I. Overview of Market Performance in 2024

As 2024 comes to a close, the performance of global major indices has drawn significant attention. This year, the global stock market has experienced a grand “party,” with most indices achieving substantial gains. According to the MSCI Global Index, it has risen by approximately 20% since the beginning of the year, becoming a focal point for investors.

Among the 22 major stock indices, 18 recorded positive returns, and 13 indices had returns exceeding 10%. Notably, the CSI 300 and the Hang Seng Index performed exceptionally well, each achieving around 16% growth, a rare occurrence that highlights the resilience and potential of the Chinese market.

II. Analysis of Major Market Performances

1. U.S. Stock Market

The U.S. stock market continued to lead globally in 2024, benefiting from an economic soft landing and the rapid development of AI technology. Major indices like the S&P 500 saw increases of over 10%. Despite the historical peak in market overweighting towards U.S. stocks, investors remain optimistic about future performance.

2. Chinese Stock Market

Both the A-share and Hong Kong markets exhibited synchronized performance in 2024, with the CSI 300 and the Hang Seng Index recording approximately 16% gains. Although there are certain uncertainties within the market, positive expectations regarding policy continue to drive market increases. This synchronized performance also reflects a degree of interconnectedness between the U.S. and Chinese markets.

3. Japanese Market

Japan’s stock market, after a decade-long bull run, maintained its robust momentum. The Nikkei 225 Index gained favor among investors due to stock market reforms and improved profitability, with expectations of double-digit returns.

4. European Market

Despite facing economic growth slowdowns and inflation issues in the Eurozone, major European indices achieved high single-digit returns, led by countries like Germany. The resilience of the German economy is generally believed to continue supporting the performance of other countries in the region.

III. Polarized Market Landscape

The performance of the markets in 2024 reveals a significant polarization in global stock markets. While overall gains are impressive, there are marked differences in performance across various regions. Developed economies like the U.S. and Japan performed exceptionally well, while markets in other countries appeared relatively weak.

Among developing countries, the Indian stock market stood out, becoming a true barometer of economic growth. In contrast, while the A-share and Hong Kong markets rebounded this year, they still failed to fully reflect the strong growth of the Chinese economy.

IV. Summary and Outlook

The analysis of the performance of global major indices in 2024 indicates that, despite the overall strong market performance, investors must remain vigilant regarding potential market volatility and structural risks. Looking ahead to 2025, the performance of various markets will be profoundly influenced by economic fundamentals and the policy environment.

In this context, investors should exercise caution, monitor market dynamics, and adjust their investment strategies flexibly to seize opportunities in the future investment landscape.

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（Source: uSMART HK）