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Iran Admits to Shooting Down Ukrainian Plane, UK Rep Detained In Tehran As Protests Worsen Persia is coming apart at the seams. In a surprising turn of events, Iran has admitted accidentally shooting down the Ukrainian Boeing (NYSE:BA) 737-800 last week leading to the death of 167 civilians, 82 Iranians among them. In addition to […]The post Market Morning: Iran Protests, Boeing Embarrasses Self, Australia Evacuates, GrubHub Rollup appeared first on Market Exclusive.
The iShares MSCI Australia ETF (NYSE: EWA), the largest Australia exchange traded fund listed in the United States, could contend with an issue often reserved for single-country ETFs devoted developing economies: credit risk. Strength in Australian stocks has been facilitated by accomodative monetary policy by the Reserve Bank of Australia. While the Australian economy has dodged a recession for more than three decades, at least one major ratings agency believes the country's AAA credit rating could be imperiled if the economy there weakens.
Australia represents a safe backdoor Pacific growth play supported by rock-solid fundamentals; China, Japan, South Korea, India and Hong Kong are its leading export destinations, asserts Carl Delfeld, international expert and editor of Cabot Global Stocks Explorer.
The iShares MSCI Australia ETF (EWA) , the largest Australia exchange traded fund listed in the U.S., entered Wednesday with a 20.42% year-to-date and the major local equity benchmark there recently ran to a record high. As is the case with several other major developed markets this year, stocks in Australia are being fueled by expectations of a dovish central bank, in this case the Reserve Bank of Australia (RBA). The RBA’s dovish stance comes as other global central banks consider more accommodative monetary policies as well to combat the negative effects of slowing global growth and the prospects of a prolonged trade dispute between some of the largest economies in the world.
Australia country-specific ETFs could get a helping hand from the Reserve Bank of Australia as the central bank cuts interest rates for the second time in as many months to support the resource-rich economy in an increasingly uncertain global outlook. The Australian central bank lowered its official cash rate to a record low 1.00% on Tuesday, down from 1.25% after the cut in June, as policy makers underscored the U.S.-China trade dispute that threatened the global export industry, the Wall Street Journal reports. The RBA's dovish stance comes as other global central banks consider more accommodative monetary policies as well to combat the negative effects of slowing global growth and the prospects of a prolonged trade dispute between some of the largest economies in the world.
Up more than 17% year-to-date, the iShares MSCI Australia ETF (EWA) is one of the best-performing single-country exchange traded funds tracking a developed market outside the U.S. Thanks to comparatively high interest rates, Australia ETFs like EWA sport enticing dividend yields, which can help investors generate current income while expanding the international portions of their portfolios. All of that sounds nice and it is, but some market observers have differing opinions regarding the ability of Australian stocks to continue running higher this year.
Australia’s ASX 200 lost 0.26% today. The index remained in a downward momentum within a narrow range today. 58 stocks in the index gained while 131 fell today. Among the sectors, industrials, healthcare, and basic materials were the only gainers today.
Australia’s ASX200 lost marginally today. Although the index was trading higher until noon, it erased those gains afterward. 70 stocks gained, while 118 fell. BHP Group (BHP) outperformed the index with marginal gains, while Rio Tinto (RIO) gained 0.64%.
Investors in the U.S. looking to broaden their portfolios beyond North America should look at mid-to-large cap equities in developed markets like Europe, Australia and Asia.
Australia’s ASX200 recovered today after a loss on Friday. After losing 0.55% on Friday, the index rose 0.22% today. Out of 200 stocks in the index, 83 advanced, while 103 retreated. 14 stayed unchanged today. BHP Group (BHP) and Rio Tinto (RIO) were among the gainers, while News Corp (NWSA) lost 1.29% on the Australian Stock Exchange today.
All Major Developed Asia Indexes Drop on May 29(Continued from Prior Part)South Korea’s KOSPI dropsSouth Korea’s KOSPI, which gained yesterday, retreated today. The index lost 1.25% to close at 2,023.32. Today’s loss pushed KOSPI into the red
Trade War Subdues Manufacturing PMIs around the WorldManufacturing PMIToday, IHS Markit published its purchasing managers’ indexes or PMIs for May countries around the world. Australia saw the composite PMI rise to 52.2 in May from 50 in April.
Developed Asian-Pacific Indexes Fall on 'Long March' Fears(Continued from Prior Part)KOSPI breaks the winning streakSouth Korea’s KOSPI, which gained in the last two sessions, fell today. The index dropped 0.26% to 2,059.59. The Korean won gained
Most APAC Indexes Are in the Green amid the Trade War Escalation(Continued from Prior Part)KOSPI gains again South Korea’s KOSPI gained 0.18% on May 22 to end the day at 2,061.25. It was the index’s second consecutive gain. On May 21, the
Developed Asia: Singapore Falls on GDP, ASX 200 Gains(Continued from Prior Part)ASX 200 gains again After rising 1.74% on May 20 on the back of a surprise election victory for the incumbent, Scott Morrison, Australia’s S&P/ASX 200 gained again
Australia, Japan Up—Singapore, KOSPI, and Hong Kong Down(Continued from Prior Part)KOSPI losesSouth Korea’s KOSPI continued to fall for the second straight day on May 17. The index, which fell 1.2% on May 16, extended its losses by another 0.58%
As ASX 200 Advances on Rate Cut Hopes, Indian Indexes Also GainKOSPI posted lossesKOSPI, the benchmark index in South Korea, fell 1.2% on May 16 to end up at 2,067.69. The iShares MSCI South Korea Capped ETF (EWY) continued it’s winning streak on
Most APAC Markets Recover on US Optimism, China's Stimulus Hopes(Continued from Prior Part)KOSPI follows ChinaSouth Korea’s KOSPI remained in the green on May 15. The index gained 0.53% on the day to end at 2,092.78. The iShares MSCI South Korea
May 14: Indian Indexes Gain, Other Asian Markets Stay in the Red(Continued from Prior Part)KOSPI gainsSouth 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
May 13 Update: Inconclusive Trade Talks Take Asian Stocks Down(Continued from Prior Part)AustraliaAustralia’s S&P/ASX 200 Index continued to trade within a narrow range at the start of the new week. The index closed 0.21% lower, nearly wiping
APAC: Will It Be Endgame or an Infinity War for Trump and Liu?(Continued from Prior Part)AustraliaAustralia’s S&P/ASX 200 index remained within a narrow range and closed up 0.25% on May 10. New Zealand’s S&P/NZ 50 Index closed marginally
May 9 Asia-Pacific Update: All Eyes on Renewed Trade Talks(Continued from Prior Part)Australia and New Zealand gainAustralia’s S&P/ASX 200 was the bright spot in the Asia-Pacific markets on May 9. The index reversed its previous day’s loss