Chile’s economy expanded more than 6% in the second quarter, blowing out all other emerging markets. Its ETF (NYSEARCA:ECH) has handily reflected the strides Chile’s economy has made since a devastating earthquake in February.
- The Latin American country’s stock market has skyrocketed 6.5% for the second quarter, making Chile one of the best-performing markets this year, Randy Woods for Bloomberg News reports.
- The large earthquake that rocked Chile earlier this year generated some positive things – namely, increased consumption from locals later on.
- Chile also boasts the world’s largest copper industry, responsible for about 34% of the world’s output. As a result, Chile has benefited from the global economic recovery as new buildings go up.
- John Spence for MarketWatch reports that the related Chilean ETF has broken its 2010 trading range and passed up all other emerging markets. The ETF has gone vertical, rallying 19.8% in the last three months.
- iShares MSCI Chile (ECH): The top sectors in the fund are utilities, industrials, materials and consumer staples.
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Tisha Guerrero contributed to this article.