Dec. 31, 2014, 11:34 AM
- Nearly all the ETFs involved are single-country funds, with 22 seeing reduced fees, and 19 increases. First up is the list of funds seeing cuts and the number of basis points:
- EWA 3 basis points, EWO 3 bps, EWC 3 bps, EWQ 3 bps, EWG 3 bps, EWH 3 bps, EWM 3 bps, EWS 3 bps, EWP 3 bps, EWD 3 bps, EWL 3 bps, ENZL 3 bps, EWU 3 bps, EWK 2 bps, EZU 2 bps, EWI 2 bps, EWJ 2 bps, SCJ 2 bps, EWW 2 bps, EWN 2 bps, EIRL 2 bps.
- Next are the funds with increases; all are by one basis point: EWZ, BKF, ECH, EEM, EIS, EZA, EWY, EWT, THD, TUR, ERUS, EPU, EWZS, MCHI, ECNS, INDA, EIDO, EPHE, EPOL.
- Previously: Vanguard lowers fees on 12 ETFs
Sep. 8, 2014, 8:23 AM
- Three-month flows into Singapore ETFs are on course to reach the most since Markit began tracking the numbers in 2009. This comes following outflows for five consecutive quarters through June and as Singapore's Strait Times Index rebounds 13% from the year's low on February 5.
- Valuation helps - the Straits Times is trading at right about its 5-year average P-E multiple vs. a 17% premium for the S&P 500.
- The Straits Times was about flat in 2013, the worst performance among 24 developed markets tracked by Bloomberg. Its 5.5% gain YTD places it 14th.
- EWS +0.4% premarket
Aug. 8, 2014, 4:22 PM
Jun. 25, 2014, 10:40 AM| Comment!
Jan. 24, 2014, 8:16 AM
- The iShares Emerging Markets Index ETF (EEM) is off 1.3% in the premarket as investors rush out of emerging currencies. The Turkish lira plunged to a record low today, while Ukraine's hryvnia fell to a four-year low, and South Africa's Rand dove to its weakest since October 2008 following Argentina's decision to devalue the peso and a weak PMI report out of China yesterday.
- “We continue to see the risks surrounding China’s macro trajectory as having a negative impact on EM,” says Morgan Stanley's Rashique Rahman. “As capital costs rise and investment slows, commodity prices should come under pressure, boding poorly for economies linked to China’s old growth model.”
- In Russia, the ruble has declined to an all-time low vs. the euro.
- Of Turkey from Rareview Macro's Neil Azous: "Their net foreign-exchange reserves are dwindling pretty fast. They’re definitely in the danger zone. If you’re a money manager, the responsible action is to take some measures to reduce risk.”
- Emerging market ETFs: EEM, VWO, DEM, EDC, DGS, EDZ, EEMV, EEB, SCHE, EDIV, IEMG, DVYE, EEV, BIK, EWX, BKF, PIE, CEW, ADRE, HILO, EUM, FNI, EET, GMM, PXH, BBRC, EEMS, EELV, FEMS, EEME, EMDD, BICK, EMCR, DBEM, FEM, EWEM, EVAL, JEM, EMLB, EMBB, TLTE, EEHB, EGRW, FNDE, EMSA, EMHD, EMFT, EMDR, QEM, QDEM
- Relevant country ETFs: TUR, EWS, EZA, ARGT, EWSS, FXSG
Jan. 17, 2014, 4:18 PM
Dec. 23, 2013, 10:03 AM
- Thai shares (THD, TF, TTF) slide 1.2% in Bangkok as political turmoil intensifies.
- Protestors have taken recently to surrounding Prime Minister Yingluck Shinawatra’s home and are now attempting to disrupt new elections.
- Amid the strife, the baht hit its lowest level in nearly four years — Thai shares have seen foreign outflows "for nearly every session since November," Reuters notes.
- Other Southeast Asian markets are quiet. Shares in Singapore (EWS, EWSS) are up 0.7%.
Nov. 14, 2013, 9:52 AM
- Dovish commentary from Janet Yellen gives Southeast Asian markets a boost, as investors likely believe the continuation of ultra accommodative Fed policy will stem and/or prevent emerging market capital outflows.
- Across the region: SET (THD, TTF, TF) +0.8%, JCI (IDX, IDXJ, EIDO) +1.5%, Straits Times (EWS, EWSS) +0.8%.
- Not participating in the rally are Philippine shares (EPHE), which are up just 0.1% as the country continues to reel from damage inflicted by Typhoon Haiyan.
Nov. 8, 2013, 9:38 AM
- Thai stocks (THD, TF, TTF) fall for a second day as investors nervously eye the senate, which is set to debate a controversial amnesty bill. The SET is off 1.4% in Bangkok.
- Also lower are Philippine shares (EPHE), as the PSEi slides 1.3% to a five-week low.
- Elsewhere: The Straits Times (EWS, EWSS) falls -0.8%.
Oct. 31, 2013, 10:37 AM
- Indonesian shares (IDX, IDXJ, EIDO) fall 1.4% to two-week lows, in a move attributed to underwhelming quarterly earnings. Nevertheless, the JCI closes out the month with a solid gain of nearly 5%.
- Other regional shares are weaker as well, with Singapore (EWS, EWSS) and Malaysia (EWM) off by more than 0.5% — in the absence of an identifiable catalyst, the underperformance is (of course) blamed on U.S. monetary policy being "less dovish than anticipated."
- Meanwhile, Thai shares (THD, TF, TTF) rebound, rising 0.8% after falling 1.7% on Wednesday.
Oct. 17, 2013, 9:18 AM
- Not surprisingly, Southeast Asian shares are moderately stronger on the heels of the debt deal in Washington. Regional stocks are higher across the board, although some markets trimmed gains after the midday break.
- Across the region: Philippines (EPHE) +1.2% as the PSEi hits a four-week high; Indonesia (IDX, IDXJ, EIDO) +0.6%, Singapore (EWS, EWSS), Thailand (THD, TF, TTF) +0.3%, Malaysia (EWM) +0.3%
Oct. 11, 2013, 9:35 AM
- Southeast Asian markets are higher across the board on optimism regarding the U.S. political stalemate.
- Shares in Thailand (THD, TF, TTF), Indonesia (IDX, IDXJ, EIDO), The Philippines (EPHE), Singapore (EWS, EWSS), and Malaysia (EWM) rise 0.4%, 0.75%, 0.8%, 0.3%, and 0.55% respectively.
- Virtually all indices are sitting at multi-week highs.
Oct. 7, 2013, 9:54 AM
- The Junior Gold Miners ETF (GDXJ -0.4%) opened sharply lower (but has since recovered) after LionGold plunged 71% overnight in Singapore amid the deflating of a mini-small-cap bubble. At 4.78% of AUM, LionGold was GDXJ's largest holding at last report.
- The decline had begun on Friday and the exchange suspended trading in LionGold and two other names citing concerns market participants might not be "fully informed." The dive accelerated after trading was re-opened.
- The iShares MSCI Singapore Small-Cap ETF (EWSS -3.8%).
- Thus far there doesn't appear to be much spillover into the blue-chip market (EWS -0.2%) - known mostly for its REITs and other dividend payers.
- Other gold-mining ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
Sep. 30, 2013, 10:39 AM
- Indonesian shares (EIDO, IDX, IDXJ) are hit with more foreign selling (~$70B), helping to send the JCI 2.4% lower in Jakarta.
- Also stumbling are stocks in Thailand (THD, TF, TTF), the Philippines (EPHE), and Singapore (EWS, EWSS), where shares are off 2.4%, 3%, and 1.3% respectively.
- Vietnamese stocks (VNM) buck the weak regional trend, rising 1.2%.
Sep. 27, 2013, 9:14 AM
- Indonesia sees foreign selling for a fourth session Friday, even as stocks (IDX, IDXJ, EIDO) manage to break a four-day losing streak. Gains were miniscule however, with the JCI up just 0.4%. Foreign investors sold $168M worth of shares for the week, according to Reuters.
- Elsewhere, Thai shares (THD, TF, TTF) tick lower for a second-straight day and have fallen in four out of five sessions on foreign selling totaling $323M.
- Other markets: Straits Times (EWS, EWSS) +0.5%, PSEi (EPHE) -0.4%
Sep. 23, 2013, 10:29 AM
- The Borsa Istanbul (TUR -0.3%) promptly slides 1% (and out of bull market territory) just as JPMorgan upgrades Turkish stocks to Overweight. JPMorgan's call doesn't say much for emerging markets' ability to control their own destiny: "[No taper] doesn’t change the negatives of the too-large current account deficit, and the Central Bank of Turkey’s uncertain monetary policy, but it certainly makes them a lot less important."
- In other emerging market action, Thai shares (another JPMorgan favorite) plunge 3.4%, the largest one-day decline in more than three months. The SET is now below 1,500. ETFs - THD, TF, TTF
- Elsewhere: Philippine shares (EPHE) rally +0.8%, stocks in Singapore (EWS, EWSS) fall -0.7%, and other Southeast Asian markets are fractionally lower.
EWS vs. ETF Alternatives
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