2. Egypt
gallery top markets world egypt
YTD gain: 55%

Egypt's stock market has come roaring back this year, after tumbling more than 50% in 2011 amid political tension in the aftermath of the Arab Spring revolution.

The market got a big boost in June, following a win by the Muslim Brotherhood's Mohamed Mursi in the country's first free presidential election.

But the political situation in Egypt is still murky. It remains to be seen whether Egypt's new government will choose to implement Sharia law, the Islamic legal and moral code, and what kind of role it will take in Middle East conflicts, said Larry Seruma, managing principal at Nile Capital Management.

"The key overhang in Egypt is that its political situation continues to be one marked by uncertainty, and that makes investors nervous about how much to invest there," he added.

Source: Morningstar
Data as of Nov. 14.
  @CNNMoneyInvest - Last updated November 28 2012 11:57 AM ET
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