The Nikkei gained 8.5% in USD terms
Happy New Year to our readers in Tokyo, as the clock rolls over there (and to those in Seoul and elsewhere)
In my mind, equity performance is meaningless without adjusting for currency changes. The winner this year was Japan, where the yen kept pace with the US dollar and Japanese stocks roared in the first half of the year before a correction but still hung on for a good gain.
Stock markets in USD terms:
