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Investors dabbling with emerging markets this year have generally done much better than those tracking the world's mainstream indices. In sterling terms, shares in Egypt top this year's global performers, with the Cairo & Alexandria index up 101% as at yesterday's (20 December) close. Investors in Columbia (up 97%), Hungary (65%), Czech Republic (59%), Austria (54%), Jordan (49%), Peru (45%), Poland (39%), Mexico (32%) and Norway (30%) will also be grinning this Christmas. In contrast, the FTSE 100 has risen by just 6% this year and was the 40th best-performing index out of 60 primary markets listed on Bloomberg. Other major Euro bourses provided similar lacklustre returns, with French and German shares edging 4% higher and Dutch shares ending the year flat. The weakness of the US dollar hit market returns Stateside. In sterling terms, the S&P 500 declined 1%, the Nasdaq fell 2% and the Dow Jones reversed 6%. Elsewhere, Russia's dollar-based RTS index fell 5%. Certain far Eastern markets performed poorly too. Tokyo's Nikkei 225 and the Taiwan market retreated 1-2%, while Thai investors endured a 19% plunge. However, the worst performing country goes -- surprisingly perhaps given this year's financial news coverage -- to China. According to Bloomberg, both the Shangahi and Shenzhen indices have lost 22% this year. Something that never changes among emerging markets is their unpredictability, with this year's award for violent swings going to the Indian market. Over the space of two days in May, the Mumbai Sensex index collapsed 17% following a surprise election result. At the low, the Sensex was 23% off its 2004 starting value. However, Indian investors have since recovered from the shock, as the Mumbai market is now up 6% on the year! More: