South Korea's Kospi Index loses its position as the world's top performing stock market, surpassed by Nigeria

According to data tracked by Bloomberg from 92 global stock exchanges, Nigeria, the largest oil producer in Africa, has seen its benchmark index rise by 68% in dollar terms this year, surpassing the 66% increase of South Korea's Kospi index. The rise in Nigeria's stock market has been mainly led by financial services companies, and the naira has appreciated by 4% since January. In addition, S&P Dow Jones Indices is considering upgrading Nigeria to frontier market status, which may further enhance its appeal to investors.