| The Morgan Stanley Capital International index, widely used as a benchmark for the total international stock market, rose to a record high in six years and six months. This owes to U.S. stock prices repeatedly breaking into new highs and markets in emerging economies turning upwards after lagging at early this year.
According to financial investment industry sources on Monday, the MSCI World Index reached 421.6 on last Thursday, recording its highest level since Nov. 1, 2007 (420.7). The index rose by 1.8 percent during May. Analysts say U.S. economy is warming after harsh winter while the Ukraine crisis has eased considerably, erasing negative impact. Investor sentiment was also boosted by prospects that Japan and European Central Bank would come up with additional economic stimulus measures.
Rebound in emerging economies` stock markets also boosted the index. The MSCI Emerging Markets Index rose by 3.3 percent last month, while the MSCI Developed Markets Index rose by 1.6 percent. Markets in Russia and India drove up the MSCI`s Emerging Markets Index. Russia index rose 12.2 percent, Hungary 9.8 percent, India 9.3 percent and Turkey 9.3 percent.