Global Stock Markets Q3 2025 — Winners & Laggards

The first nine months of 2025 have delivered some striking shifts in global equity performance — with Europe stealing the spotlight.

Top Performers
Central and Eastern Europe are leading the global rally, with multiple markets gaining over 50% YTD.

Czech Republic: +55.4%

Greece: +53.4%

Poland: +53.1%

Hungary: +53.0%

Luxembourg: +50.1%

Moderate Growth Markets
Strong but steadier gains seen across parts of Asia and Southern Europe:

South Korea: +47.8%

Spain: +47.6%

Austria: +47.6%

Portugal: +37.1%

Italy: +36.2%

Laggards
Several Asian and Middle Eastern markets have trailed, reflecting local macro and policy pressures:

India: -0.4%

Philippines: -2.8%

Thailand: -6.7%

Saudi Arabia: -8.1%

Denmark: -10.8%

Takeaway:
2025 is underscoring the value of geographic diversification. Europe’s resurgence contrasts sharply with weakness in parts of Asia and the Middle East — reminding investors that opportunities (and risks) remain uneven across regions.

Question for investors:
Will Europe’s momentum carry into 2026 — or is it time to rotate toward lagging markets poised for a rebound?