Global equities have continually reached fresh highs, with new records set virtually every month as the year progressed.
Of the developed markets, the US and Japan outperformed the UK and Europe in local terms.
But which were the sectors and stocks behind some of this relative performance and what of the losers?
US stocks have generated blistering returns in local, US dollar terms over the past year, with the US S&P 500 index surging by 18% to close on Friday at 2673 points.
Virtually all sectors of the US stock market delivered strong, double-digit returns over the 12-month period, with energy as the major exception.
Technology was the best performing segment of the US market, and by a wide margin, clocking up a rise of over 30%.
This was the year when the fundamentals just seemed to get better for big US technology names such as Apple and Amazon.com.
Apple shares are up by over 50%, with the company storming past results targets and experiencing huge demand for its new iPhone X towards year-end.
Amazon.com was up 36% over the year, again powered by strong financial results. The e-commerce giant swooped to acquire US grocer Whole Foods in a $13.7bn deal, making traditional retailers more worried than ever about Amazon.com´s aggressive expansion.
So, why did the US energy sector underperform, falling 9% over the past 12 months, despite oil, as measured by Brent crude oil futures rising from $54 to $63 per barrel?
For one, traditional energy stocks are decidedly out of vogue at a time when there is much excitement around the growth of alternative energy sources and technologies.
Electric battery powered cars were increasingly touted as the future for motorists, with encouragement from governments that want to cut down on pollution and rapid improvement in technology.
Some traditional energy names were also weighed down by debt and appeared to be struggling with the new normal of oil prices staying lower for longer.
The days when oil traded at well over $100 per barrel just three years ago seemed unlikely to ever return.
US oil & gas name Chesapeake Energy saw its shares slump by nearly 50% over the 12-month period.
UK and Europe
In comparison, the FTSE All Share has seen much more subdued performance in local terms, advancing by 8% over the 12 months.
The Stoxx Europe 600, which includes some of the biggest names from across 17 European countries, saw a broadly similar result, gaining 7.8% over the year.
The top performing sector for the UK market over the year was leisure goods.
Within the sector, and across the UK market as a whole, the stand out performer over the year was Games Workshop Group, which surged by over 260%.
The maker of miniature figurine armies for fantasy table games was buoyed by strong financial results amid growing demand for its products in the UK and overseas.
Given the strong rise in many metals prices over the period, another of the top performing UK equity sectors was industrial metals & mining.
London-listed Glencore saw its shares rise 28% as it was boosted by rising demand for metals used in the batteries of electric cars.
Within the FTSE 100, meanwhile, mergers and acquisitions played an important role. For instance, among the top performers was payments processor Worldpay, which was acquired by US rival Vantiv in an £8bn deal.
The worst performing sector over the year was fixed line telecommunications. BT Group, for instance, was plagued by an Italian accounting scandal, with the shares losing around 25% over the 12-month period.
Japan and Asia
Japanese and Asian stocks generally benefited from a robust global growth picture.
While not quite up to the pace of the US, Japanese stocks significantly outperformed the UK and Europe in local terms.
Japan´s Nikkei 225 rose 16% over the 12 months.
Exporters benefited from an improving global growth picture, while Japan´s domestic economy also saw continued growth.
Among the best performing Japanese-listed stocks was automatic control equipment company Keyence, which saw its shares rise by 64%.
As well as robust overseas demand, the firm also benefited from the increasing automation of factory processes in Japan as domestic firms struggled with an ultra-tight labour market.
Other notable performers in Asia was Tencent, the Hong Kong-listed internet name, with its shares rising by 112% over the 12 months. It was boosted by the growing popularity of its WeChat platform in China and surging revenues from mobile games.
Looking ahead into 2018, it seems foolish to be overly optimistic about the prospects for those sectors of the market that have had such a strong run in 2017.
On the other hand, we may see a continuation of some of the trends that have driven the market in 2017, with certain technology shares performing extremely well.
A fairly rosy global growth picture for 2018 should continue to support the prospects for such stocks.
Nevertheless, valuations may start to become a concern, unless big technology names can continue to beat earnings expectations as they have done this year.