Thu, May 7, 4:46 AM
- The International Monetary Fund warns the balance of risk in the Asia-Pacific region is tilted toward the downside due to rising debts and a stronger U.S. dollar.
- Although Asia is still seen as a global growth leader, the agency sees a slowing trend.
- The region is forecast to have a growth rate of 5.6% in 2015 and 5.5% in 2016, according to the new IMF survey.
- Positive factors for Asia in the near future include moderating commodity prices, strong labor markets, and solid demand from the U.S. and Europe.
- ETFs: FXI, DXJ, EWJ, TUR, VNM, EPI, EWA, EWY, INDY, EWS, ASHR, THD, EWH, SCIF, EPHE, CAF, IDX, YINN, KWEB, PGJ, EIDO, GXC, EWM, FXP, EWT, INDL, PIN, INDA, HAO, INP, EPP, INXX, YANG, VPL, TAO, CHIX, PEK, CHIQ, CQQQ, DFJ, MCHI, AAXJ, INCO, QQQC, DBJP, SCIN, ENZL, NKY, AIA, ASEA, SMIN, XPP, AUSE, EWSS, YAO, IDXJ, EZJ, JPNL, DXJS, EWV, ASHS, YXI, CN, CHXF, FCA, CHNA, CNXT, AZIA, CHII, CHIE, ECNS, KROO, SCJ, EWHS, AXJL, DVYA, CHIM, HEWJ, JSC, ITF, KBA, KFYP, KORU, JPP, FCHI, ADRA, DXKW, FKO, HKOR, EWAS, FTW, PAF, FHK, FAUS, DBKO, QJPN, FPA, JPX, FJP, JPMV, DXJT, DXJR, DXJC, QKOR, AXJS, DXJH, QAUS, JHDG, AFTY, UXJ, DBAP, AXJV, IPAC, QTWN, DXJF, PAK
Mon, Mar. 23, 2:56 AM
- Singapore has declared a week-long period of national mourning following the death of its first prime minister Lee Kuan Yew, who transformed the country from a colonial trading center into one of Asia’s most prosperous nations. He was 91.
- Lee’s core principles - including clean and efficient government, business-friendly economic policies, and social order - helped attract massive investment and many of the world’s largest companies to Singapore during the 31 years he was prime minister between 1959 and 1990.
- ETFs: EWS, EWSS
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%.
EWS vs. ETF Alternatives
The iShares MSCI Singapore Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Singaporean equity market, as measured by the MSCI Singapore Index.
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