Asian Markets Soar Off Strong U.S. Rally

by: Roy Mehta

The rally that began in the U.S. Monday continued in Asia Tuesday, with some indices reaching record levels. Hong Kong's Hang Seng Index (+3.9%) outpaced the rest of the indices and finished at a record close. Korea's Kospi Composite (+2.6%), helped by enthusiasm over a summit between North and South Korea, finished with a record high as well. Australia (+1.33%) and Singapore's Straits Times (+1.0%) both ended with strong sessions. Recently, stocks in Asia have had astounding surges as more investors want exposure to the high-growth markets. However, Lee Jae-Hoon at Mirae Asset Securities in Korea said, "The market rose a bit too fast in such a short time." To sustain the current pace, he said big players in Asia will have to "announce better-than-expected third-quarter earnings," and if this fails to happen, he believed "the market will face strong downward pressure."

Sources: WSJ
Commentary: iShares Asia Region ETFs Keep ClimbingNo International ETFs Currently Oversold
Related: Single Country Asia ETFs

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