The Swiss stock market has kicked off the year strongly, with all SMI stocks rising except for Geberit and Kühne + Nagel International. Richemont leads the gains with a nearly 25% increase in year-to-date performance, driven by a 10% rise in sales to €6.15 billion, despite challenges in China.Technically, the SMI is testing last year's high of around 12,500 points, with potential to reach its 2021 record of 13,000 points if the global economy accelerates. A pullback below the 200-session moving average at approximately 11,950 points would invalidate this bullish outlook.