The last of the world’s major regional indices has finally gotten back to its 2007 highs. The MSCI Asia-Pacific Index includes stock markets in 15 Pacific region countries, including Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan and Thailand. The breaching of the 2007 highs happened a mere 56 months after the U.S. achieved the same feat in 2013.
Along with the markets now in a seemingly globally synchronized uptrend, economic conditions have similarly improved. Jeffrey Saut, chief investment strategist at Raymond James, released a research note highlighting the fact that global growth is expected to reach 3.6% next year—the best since the Great Recession. Further, a report from Deutsche Bank Securities says this should result in the lowest-ever number of countries in recession next year.