The Dow Jones Country Titans indices, which measure the performance of the biggest and best known companies in each country, tell the story. Its China 88 index is up 92.5 percent year to date, while Singapore's is up 48.4 percent, Hong Kong's 43.7 percent and South Korea's 41.1 percent. Compare this to the world's old guard: the UK's blue chips have gained just 5.4 percent, Germany's 6.4 percent and France's 8 percent.rnPartly, this is because Asian markets fell irrationally far in the first place, particularly given that the banking systems backing them were largely immune from the problems that blighted those in the US and Europe. The fall was a consequence of capital behavior: as times turned difficult for US and European fund managers, they tended to bring money home in the belief that it was safer to do so.
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