Borrowed this from r/stocks [https://www.reddit.com/r/stocks/comments/1qexk3r/everyone\_watches\_the\_sp\_500\_but\_south\_korea\_just/](https://www.reddit.com/r/stocks/comments/1qexk3r/everyone_watches_the_sp_500_but_south_korea_just/)
For investors, who peg returns in USD, India was amongst the worst markets in 2025. For instance, South Korean markets returned a whopping 77.8% last year with Won remaining relatively stable as against USD.
India returned 2.6% with INR depreciating \~6-7%, bringing your overall USD return to -4%. That's also been one of the reasons global investors and FIIs are pulling out of India.
|Rank|Country / Region|Market Capitalization Growth|
|:-|:-|:-|
||
|1|South Korea|77.8%|
|:-|:-|:-|
||
|2|Spain|64.5%|
|:-|:-|:-|
||
|3|South Africa|50.5%|
|:-|:-|:-|
||
|4|Italy|42.0%|
|:-|:-|:-|
||
|5|Mexico|41.0%|
|:-|:-|:-|
||
|6|Brazil|36.1%|
|:-|:-|:-|
||
|7|Hong Kong|35.5%|
|:-|:-|:-|
||
|8|Canada|35.3%|
|:-|:-|:-|
||
|9|China|33.7%|
|:-|:-|:-|
||
|10|Taiwan|32.5%|
|:-|:-|:-|
||
|11|**European Union**|**31.3%**|
|:-|:-|:-|
||
|12|Singapore|30.1%|
|:-|:-|:-|
||
|13|Switzerland|29.4%|
|:-|:-|:-|
||
|14|Netherlands|29.1%|
|:-|:-|:-|
||
|15|Sweden|29.0%|
|:-|:-|:-|
||
|16|Germany|28.6%|
|:-|:-|:-|
||
|17|United Kingdom|24.5%|
|:-|:-|:-|
||
|18|France|22.8%|
|:-|:-|:-|
||
|19|**World**|**20.5%**|
|:-|:-|:-|
||
|20|Japan|19.9%|
|:-|:-|:-|
||
|21|Australia|17.7%|
|:-|:-|:-|
||
|22|**United States**|**15.3%**|
|:-|:-|:-|
||
|23|India|2.6%|
|:-|:-|:-|
||
Market capitalization growth from December 2024 to December 2025