14 May

KOSPI Gains, ASX Extends Losses, Singapore Still under Pressure

WRITTEN BY Mayur Sontakke, CFA, FRM

KOSPI gains

South Korea’s KOSPI, which lost 1.38% yesterday, marginally recovered today. The index ended up 0.14% at 2,081.84. The iShares MSCI South Korea Capped ETF (EYW), which lost 3.71% yesterday, is expected to recover strongly today.

KOSPI Gains, ASX Extends Losses, Singapore Still under Pressure

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Australia

The Australian ASX200 added a 0.92% loss today to yesterday’s 0.21% fall to end in the red for the second day this week. Most of the fall came during the early trade as a repercussion of yesterday’s fall in US indexes. Afterward, the index recovered partially.

The iShares MSCI Australia ETF (EWA) lost 2.03% on May 13 as US indexes tumbled.

Meanwhile, the iShares MSCI Pacific ex-Japan ETF (EPP), which invests 54% of its holdings in Australian equities, lost 2.39% on May 13.

New Zealand’s NZ50 index saw a 0.56% drop today.

Singapore

Singapore’s Straits Times Index (or STI) extended its Monday losses today. The index lost 0.33% to end today at 3,223,71. STI traded within a narrow band and recovered after opening low.

The iShares MSCI Singapore Capped ETF (EWS) lost 3% yesterday during trading on NYSE Arca.

The JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX), which also invests in Singaporean equities, lost 2.56% on May 10.

With most Asian markets posting lower losses than expected, I expect Japan-, Korea-, and Singapore-focused ETFs to recover well today.

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