Overseas-related exchange-traded funds were among the best performers Wednesday, as foreign markets surged overnight.
Last time out, Hong Kong's Hang Seng Index jumped 2.8%, China's CSI 300 Index added 1.6% and South Korea's Kospi Index rose 1.3%.
iShares FTSE/Xinhua China 25 Index
(FXI) was higher by $6.98, or 5.4%, to $135.98. The
SPDR S&P China
(GXC) was adding $3.68, or 5.5%, to $70.55. The
iShares MSCI South Korea Index
(EWY) gained $2.28, or 3.9%, to $60.46. The
SPDR S&P Emerging Markets
(GMM) was up $2.20, or 3.6%, to $63.96.
Basic materials-related bundled securities were also higher. Among individual stocks,
(FCX) climbed more than 3%.
Ultra Basic Materials ProShares
jumped $4.43, or 5.9%, to $80.12. The
iShares Dow Jones U.S. Basic Materials
was adding $2.03, or 3.1%, to $67.24. The
ETF was up $2.31, or 2.9%, to $80.96. The
Materials Select Sector SPDR
was adding $1.10, or 2.9%, to $38.92.
On the other hand, the
United States Natural Gas
ETF was the worst decliner of Wednesday's session, as natural gas slid 22 cents to $5.81 per million British thermal units. The ETF was falling $1.28, or 3.4%, to $36.56.
ETFs tracking crude oil were also lower, as the front-month contract slipped 54 cents to $69.03 a barrel. Earlier, the Energy Department posted its weekly inventory report that showed a rise of 1.9 million barrels in crude inventories last week.
iPath S&P GSCI Crude Oil Index
was losing 25 cents, or 0.7%, to $38.39. The
United States Oil
shed 38 cents, or 0.7%, to $52.05.
Bundled securities following U.S. Treasuries were also declining, as traders pulled investments from bonds and poured money into equities. The 10-year Treasury note fell 13/32 in price, cutting the yield to 4.65%, and the 30-year bond was off 9/32, yielding 4.97%.
iShares Lehman 7-10 Year Treasury Bond
slumped 26 cents, or 0.3%, to $83.31. The
SPDR Lehman Long-Term Treasury
was lower by 16 cents, or 0.3%, to $50.56. The
Vanguard Long-Term Bond
ETF eased 21 cents, or 0.3%, to $73.63.