A new president fuels market enthusiasm in Southeast Asia’s largest economy.
A group of Indonesia-focused equity ETFs were among the week’s best-performing funds following a presidential election in that country that, by preliminary counts, points to a new leader who could be Indonesia’s first president to have no links to Suharto—the last dictator.
Media reports suggest that Joko Widodo looks to have won the election, beating former Suharto-era general Prabowo Subianto to the post—news the markets welcomed. While it remains to be decided whether the unofficial count will hold, and a lot of the market’s enthusiasm will hinge on what kind of economic team is put in place, Indonesian equities did well in the past five days ended Thursday, July 10.
The Market Vectors Indonesia Small Cap ETF (IDXJ | F-63), the iShares MSCI Indonesia (EIDO | B-98) and the Market Vectors Indonesia (IDX | C-78) rallied between 6.7 and 7.8 percent in the past week.
On the flip side, the worst-performing ETF was the Global X FTSE Portugal 20 ETF (PGAL | D-69)—the only fund to focus exclusively on Portuguese equities.
PGAL slipped 9.76 percent in the past week. News that one of Portugal’s largest lenders was delaying debt payments sent shockwaves through the markets both in Europe and here. At the core were fears that the ongoing recovery from the financial crisis globally is still too tentative to withstand another debt crisis blow.
Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| QDEM | Market Vectors MSCI Emerging Markets Quality Dividend | 10.38% | 1,073 | 5.42 |
| EEH | ELEMENTS Linked to SPECTRUM Large Cap U.S. Momentum ETN | 9.19% | 1,097 | 0.94 |
| IDXJ | Market Vectors Indonesia Small Cap | 7.75% | 274,738 | 7.16 |
| EIDO | iShares MSCI Indonesia | 7.44% | 5,025,504 | 530.33 |
| IDX | Market Vectors Indonesia | 6.69% | 1,061,592 | 234.85 |
| QAT | iShares MSCI Qatar Capped | 5.62% | 34,136 | 33.68 |
| UBM | ETRACS CMCI Industrial Metals Total Return ETN | 5.29% | 2,400 | 4.84 |
| GDXJ | Market Vectors Junior Gold Miners | 5.08% | 36,651,470 | 2,490.27 |
| HEVY | iPath Pure Beta Industrial Metals ETN | 4.74% | 1,193 | 0.69 |
| GLDX | Global X Gold Explorers | 4.63% | 278,847 | 53.81 |
Bottom 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded
| Ticker | Name | Weekly Performance | Weekly Volume | AUM ($, mm) |
| PGAL | Global X FTSE Portugal 20 | -9.76% | 420,633 | 22.48 |
| FUE | ELEMENTS MLCX Biofuels Total Return ETN | -9.69% | 21,849 | 0.96 |
| GRN | iPath Global Carbon ETN | -9.23% | 5,082 | 1.76 |
| SCIF | Market Vectors India Small-Cap | -9.04% | 1,222,542 | 402.24 |
| SCIN | EGShares India Small Cap | -8.72% | 338,380 | 32.02 |
| CTNN | iPath Pure Beta Cotton ETN | -7.25% | 10,398 | 2.04 |
| XBI | SPDR S&P Biotech | -7.07% | 2,479,233 | 1,114.38 |
| GREK | Global X FTSE Greece 20 | -6.83% | 1,757,375 | 243.80 |
| INXX | EGShares India Infrastructure | -6.73% | 476,456 | 63.81 |
| GAZ | iPath Dow Jones-UBS Natural Gas Total Return ETN | -6.62% | 213,367 | 26.36 |
Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
