Last week, indices around the globe showed a mixed bag of results – our top funds this year such as South Africa (EZA), Russia (RSX) and South Korea (EWY) continued to do well while Spain (EWP) and China (FXI) posted another lackluster performance.
[Related -Has Warren Buffett Found The Best Investment In Oil?]
[Related -Bulls Try to Find a Backbone In the Face of Fear and Loathing]
click to enlarge
Among the emerging markets, Taiwan (EWT)
reversed its recent up trend and fell 1.45% last week. The selloff was
primarily driven by profit taking and concerns over exporters'
profitability from a stronger local currency. At the same time, China's
central bank announced a 25 basis points rate hike over the weekend to
gear up for the fight against inflation. FXI ended last week flat, but the Shanghai Composite has tumbled more than 4% this week.Spain (EWP)
dropped 3.5% last week. Markets are still concerned that the
debt-riddled Spanish government may be forced to seek a bailout and a
new wave of panic would be triggered in the eurozone. There does not
seem to be much clarity on this issue ahead.
The recent disappointing performance of the world economy has been labelled as the "new mediocre" by read on...
Yesterday’s discouraging numbers on job growth in April via the ADP Employment Report raise doubts about a read on...
Employment growth at US companies slowed in April to the weakest gain in three years, according to this read on...
Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out read on...