Korea saw world's worst stock market performance

A survey by Merrill Lynch showed Thursday that the Korean stock market's performance this year was the worst among major stock markets in the world, while China's Shanghai B stock exchange was named the best performer.

According to statistics compiled by Merrill Lynch, the Korea Composite Stock Price Index or KOSPI, which recorded the world's 5th highest increase rate last year, plunged by 50.9% this year, making it the poorest performer among the 38 countries surveyed.

The Shanghai B Index was up 136.6%, rising to No.1 from 22nd in the previous year, followed by Ireland (11.7%), Switzerland (5.5%), Canada (4.2%), Italy (3.2%) and Israel (1.5%). Among those surveyed, only these six stock markets rose.

The U.S. Standard & Poors (S&P) 500 Index was down 10.5% and ranked 18th, its worst performance since 1977. Japan's Nikkei Index, which rose 37% last year, fell 26% this year, putting it in 32nd place.

The world's worst performers were Asian stock markets, with Korea topping the list, followed by Taiwan, which was down 44.1%, and Indonesia, which fell 38.5%.

Merrill Lynch forecast that the world stock markets will see bullish trend at the end of next year, although they would start showing a downward trend in the first half of next year. ¡°This year was the hardest hit since 1990,¡± the U.S. firm said.