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The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, has today published its H1 2018 Market Highlights report.
The first half of 2018 was eventful for stock markets worldwide. While the year started on a high note with domestic market capitalisation and benchmark indices scaling record levels in markets across the globe, February 2018 was marked by a global stock market correction and a return of volatility after a remarkably calm period over 2017. Overall market valuation declined in the months that followed, with market capitalisation at the end of H1 2018 down 1.6% on the end of H2 2017 (though still up on the same period in the previous year). Trading activity (value and volumes of trades in equity shares) was up on H1 2017; however, primary market activity was mixed, with IPO listings down and investment flows slightly up on H1 2017.
KEY HIGHLIGHTS
- Global market capitalisation was up 9.1% on H1 2017, though down 1.6% on the end of H2 2017.
- Value and volume of trades in equity shares were up 24.6% and 14.1% on H1 2017.
- IPO new listings were down 9.9%, while investment flows were up 4.1% on H1 2017.
- Exchange traded derivatives volumes traded were up 17.4% on H1 2017, driven by increases in volumes traded across all asset classes, except commodity futures.
Nandini Sukumar, CEO, WFE, commented: “After a very strong year for stock exchanges around the world in 2017, the first half of 2018 saw a return to widespread volatility, marked most clearly by the global market correction in February 2018. Against this backdrop, it is interesting to note the strong IPO performance in the Americas – up 64.5% on the back of technology, financial services and consumer products listings – particularly when compared to a flat IPO performance in EMEA, and a 26% drop in the Asia-Pacific region. We remain in a period of global risk and uncertainty, and this is reflected in the mixed performance of markets and asset classes across the world.”
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