The plunge of the local blue chip index is slightly higher than that of Serbian BELEX 15, which lost nearly 26.36% this year.
The worst performer in the region is the Croatian CROBEX, which fell 26.77% since the beginning of 2008.
|Country||Index||Beginning of 2008||19 March 2008||Change %|
This makes SOFIX the most declining index among CEE countries in the EU. The Romanian BET is second here with a 23.8% slide year-to-date.
We have to note that all indexes in the region have lost more than 10% this year. The smallest losses (between 15 and 16%) were registered in Poland, the Czech Republic and in Hungary - the first countries in CEE to join the region.
The Russian RTS records the smallest loss – 11.7%. The index stays stable supported by oil companies in it and due to the slow growth last year.
Indexes in CEE have declined by an average of 20.5% this year, compared with an average of 16.4% for Europe. The MSCI index, which reflects the performance of the developing markets has fallen 14.5% since the beginning of 2008.