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 -Strong Attractor in Action Pulling S&P 500 Down]
[Related -Energy Sector Rains On Bulls' Parade, but Skies May Clear Soon]
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.
One of the surprises, at least on the surface, of the market's recent swoon was the outperformance of read on...
It’s all about real estate investment trusts (REITs) these days when it comes to bullish performance among read on...
So far so good on our expectation of a 4 to 5% pullback and then a resumption of the bull read on...
Love its members or loathe them, you have to admire the gradual impact the policy-making committee has had read on...