Japan top market in 2026; where does India rank?
Global equity market leadership has shifted markedly in 2026, with investor returns increasingly shaped by changing economic cycles, valuations and sector-specific growth drivers. Japan has
Global equity market leadership has shifted markedly in 2026, with investor returns increasingly shaped by changing economic cycles, valuations and sector-specific growth drivers. Japan has emerged as one of the strongest-performing markets, bene fiting from a favourable global artificial in telligence (AI) investment cycle. Brazil has also delivered strong returns, supported by robust demand for industrial metals and energy commodities.
Meanwhile, the US has continued its strong run despite elevat ed valuations, driven largely by sustained earnings growth among large technology companies. India has lagged other major markets in 2026 so far. Premium valua tions, slowing corporate earnings growth, foreign portfolio outflows, higher crude oil prices and inflation concerns have weighed on market performance.
Looking beyond the near term, developed markets have been the biggest wealth creators over the past decade. The US leads the pack, fol lowed by Germany and Japan.: Bloomberg. *2026 returns are YTD based on 4 August 2026 closing values. Other years' returns are calculated between the first and the last trading day closing values.
Returns are normalised to the Indian rupee. The 10-year return is the compounded average return.
The BriefWire