Broad Strength Seen Among Emerging Markets ETFs (RSX, THD, IDX, VNM, EZA, INP, EPI)
by Todd Shriber | December 2nd | Filed in: ETF News
The market’s two-day performance may indicate a rebirth of risk appetite as investors are running to once again embrace one of 2010’s top-performing asset classes: Emerging markets ETFs. After a couple of weeks of sluggish trade in late November, emerging markets ETFs are back in vogue to start December, helping the Single Country Emerging Markets ETF Index to a gain of almost 2%. On the back of soaring oil and palladium prices and news that Russia will host the 2018 World Cup, Market Vectors Russia ETF Trust (RSX), the most heavily traded Russia-specific ETF, has surged over 2% today on volume that is nearly double the daily average. The most heavily traded Russia-specific ETF, the Market Vectors Russia ETF is by far the volume leader in the Single Country Emerging Markets ETF Index today. iShares MSCI Thailand Invest Market Index (THD) is another strong volume winner, gaining 2% on volume that is 30% higher than the daily average. Investors are embracing other Asia-specific ETF as well as Market Vectors Indonesia Index ETF (IDX) has surged 3% on better-than-average volume. The bullish trade in the iShares MSCI Thailand Investable Market Index Fund and the Market Vectors Indonesia ETF comes a day after a Bloomberg News article warning about inflation issues in both countries. Market Vectors Vietnam ETF (VNM) is another Asia-specific winner, extending its winning streak to four days to trade at levels not seen since May. Despite a lethargic day for gold prices, iShares Msci South Africa Index Fund (EZA) is one of the indexes top performers, jumping 4% on better-than-average volume. India-specific ETFs are also solid on the day led by iPath MSCI India TR Index due 12/18/2036 (INP) with a gain of 2% and a 1% jump for WisdomTree India (EPI). Investors can track the Single Country Emerging Markets ETF Index for performance trends and a suite of other metrics at tickerspy.com.
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