A pair of single-country ETFs is excelling as the rest of the global economy lies crippled from a slowing China and eurozone debt troubles, according to an article on Forbes.
The iShares MSCI Singapore Index Fund (NYSEArca: EWS) and the iShares MSCI Mexico Investable Fund (NYSEArca: EWW) outperformed the S&P 500, up 11.5 percent and 13.6 percent, respectively, from June lows.
The strong performance of EWS and EWW may be a sign that global financial markets are bottoming out. This will become clearer after the release of China’s economic growth on Friday, the article reports. China ended up reporting a drop in growth in the second quarter to a 7.6 percent annualized rate compared with 8.1 percent in the first quarter.
However, buying these funds right now as their prices near technical-resistance may not be appropriate. Instead, investors should wait for favorable conditions over the next few weeks, according to the article.
Head over to Forbes.com to read more on EWS and EWW.