DHAKA: The amount of private wealth held by households globally surged more than 14% to $152 trillion last year, boosted mainly by rising stock markets.

Asia-Pacific, excluding Japan, led the surge with a 31% jump to $37tn, a report by Boston Consulting Group says, reports the BBC.

The number of millionaire households also rose sharply.

The report takes into account cash, deposits, shares and other assets held by households. But businesses, real estate and luxury goods are excluded.

‘In nearly all countries, the growth of private wealth was driven by the strong rebound in equity markets that began in the second half of 2012,’ the firm said in its report.

‘This performance was spurred by relative economic stability in Europe and the US and signs of recovery in some European countries, such as Ireland, Spain and Portugal.’

The amount of wealth held in equities globally grew by 28% during the year, Boston Consulting Group (BCG) said.

BDST: 1607 HRS, JUNE 10, 2014