Among the regional indices, the S&P/Citigroup BMI Asia Pacific Index was hit the hardest in July, declining 4.80%. The BMI North America and BMI Europe both fell in July, losing 3.64% and 2.74% respectively. Also in July, the BMI Developed World index declined 3.56% - the worst loss for this index in 12 months.
Value stocks maintained their performance edge over growth in July, but both styles did suffer declines. The S&P Citigroup BMI Developed World Value and BMI Developed World Growth indices lost 3.19% and 3.92% respectively for the month. European style indices experienced the smallest losses, posting a 2.44% loss for growth and a 3.05% loss for value. The Asia Pacific region growth and value indices lost 5.06% and 4.54%, respectively; North America growth and value indices lost 4.35% and 2.93%, respectively.
Although July took a toll on investors, year-to-date returns remain mostly positive across the world, as the BMI Global Composite is up 0.87% in 2004. Developed markets outperformed emerging markets, reporting 0.99% and 1.54% losses, respectively. The Asia Pacific region experienced the greatest difference in returns, posting a 3.95% gain in its developed markets as the region’s emerging markets fell 7.38%.
Click here to view the S&P/Citigroup World by Numbers Report for July.
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