Remarkably, given the general mood earlier in the year, things turned out well for equity investors in 2009, especially in emerging markets. Though the opening months of the year were terrible, America's S&P 500 index offered a sound increase of more than 20% for the year as a whole. Europe's DJ Euro Stoxx index rose a dollar-equivalent of about 25%, and Japan's Nikkei 225 index on the same basis rose by some 15%.
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