Nikkei Tops Global Indexes; Six of Nine Up YTD
Through May 18, 2026, six of nine major global indexes were up year-to-date, led by Japan’s Nikkei 225 (+22.0%); S&P 500 +8.1%, TSX +6.7%; BSE SENSEX -11.6%.
Six of nine major global indexes tracked on a global watchlist were higher year-to-date as of the May 18 market close. Japan’s Nikkei 225 led with a 22.0% gain. The S&P 500 rose 8.1% and Canada’s TSX gained 6.7%. India’s BSE SENSEX fell 11.6%. Germany’s DAXK was down 3.0% and France’s CAC 40 was down 2.0%. The Shanghai Composite and the FTSE 100 showed mixed results within the group.
The watchlist follows nine indexes: the S&P 500 (United States), TSX (Canada), FTSE 100 (U.K.), DAXK (Germany), CAC 40 (France), Nikkei 225 (Japan), Shanghai Composite (China), Hang Seng (Hong Kong) and BSE SENSEX (India). All performance figures are measured year-to-date through the May 18 close.
Current index levels are compared with each market’s all-time high, the date of that high and the percentage distance from the record. One chart uses February 3, 2020-the official NBER recession start-as a recent reference point. Another series aligns indexes on March 9, 2009 and uses a logarithmic vertical scale to show relative performance since the early 2009 market troughs.
The low dates cited in the series are March 9, 2009 for the S&P 500, TSX, CAC 40 and BSE SENSEX; March 10, 2009 for the Nikkei 225; March 6, 2009 for the DAXK; and March 3, 2009 for the FTSE 100. The Shanghai Composite hit a low on November 4, 2008, and the Hang Seng hit a low on October 27, 2008.
An additional chart starts on October 9, 2007, a prior S&P 500 closing high, and a long-term view indexes each market at 800 at the turn of the century to present multi-decade performance.
Methodology note: the German series is tracked as DAXK, a price-only index, to remain consistent with the other indexes on the list that do not include dividends.
Examples of exchange-traded funds tied to single-country equity exposure include WisdomTree Japan Hedged Equity Fund (DXJ), WisdomTree Europe Hedged Equity Fund (HEDJ), KraneShares CSI China Internet ETF (KWEB), iShares MSCI India ETF (INDA), iShares MSCI Hong Kong ETF (EWH), iShares MSCI Canada ETF (EWC) and SPDR S&P 500 ETF Trust (SPY).
