Where do the UK and US rank?
The US may dominate the financial headlines, but neither the UK nor the US makes this list of 2026’s strongest-performing major stock markets. Both the FTSE 100 and S&P 500 have delivered positive returns, but several Asian and European markets have performed considerably better.
The top 10 major stock markets of 2026 so far
South Korea is the standout performer, although the KOSPI finished July nearly 30% below the all-time high it reached in June, highlighting just how volatile the market has been.
The leading markets broadly fall into two groups: Asian markets benefiting from strong demand for AI and semiconductor technology, and European markets supported by banks, industrial companies and increased infrastructure and defence spending.
For this article, “major markets” means widely followed national stock indexes from established developed and emerging economies.
| Rank | Market & Index | 2026 Gain | What Drove The Market |
|---|---|---|---|
| 1 | South Korea — KOSPI | 53.0% | Samsung Electronics and SK Hynix surged as AI investment drove exceptional demand for memory chips. |
| 2 | Taiwan — TAIEX | 46.9% | TSMC and Taiwan’s chip supply chain benefited from continued demand for advanced AI processors. |
| 3 | Thailand — SET Index | 26.2% | Rate cuts, attractive valuations and stronger electronics exports drew investors back to Thai shares. |
| 4 | Japan — Nikkei 225 | 24.2% | Technology shares, stronger bank earnings and corporate-governance reforms attracted global investors. |
| 5 | Singapore — Straits Times Index | 21.1% | Banks, industrial companies and data-centre-related businesses delivered resilient earnings. |
| 6 | Austria — ATX | 20.7% | Banking, energy and industrial shares led the market as earnings expectations improved. |
| 7 | Poland — WIG20 | 20.2% | Banks and industrial companies benefited from economic growth and infrastructure and defence spending. |
| 8 | Greece — ATHEX Composite | 19.1% | Faster growth, healthier banks and falling government debt improved investor confidence. |
| 9 | Turkey — BIST 100 | 17.0% | Banks and industrials rose in nominal lira terms amid high inflation and hopes of eventual rate relief. |
| 10 | Italy — FTSE MIB | 15.0% | Strong bank profits and generous dividends and buybacks supported Italian shares. |
A final word
Returns shown are price returns in local currency, measured from the final market close of 2025 to the close on 31 July 2026. Dividends and currency movements are not included.
Strong performance so far does not guarantee future returns, so investors should still consider valuation, risk and diversification.
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