Overseas-related exchange-traded funds were among the best performers Friday, as Chinese and European indices were mostly higher.
In Asia, China's CSI 300 Index rose 1.6% and India's BSE Sensex 30 Index added 1.8% overnight. France's CAC 40 Index gained 0.8%, London's FTSE 100 Index added 0.4% and the Swiss Market Index tacked on 0.3%.
iShares FTSE/Xinhua China 25 Index
was higher by $3.02, or 2.2%, to $141.03. The
SPDR S&P Emerging Asia Pacific
was adding $1.24, or 1.7%, to $74.66. The
iPath MSCI India Index
gained 83 cents, or 1.4%, to $58.52. The
Europe 2001 HOLDRs
was up $1.06, or 1.3%, to $82.13.
ETFs tracking crude oil were also higher, as the front-month contract jumped 71 cents to $70.54 a barrel. The
Ultra Oil & Gas ProShares
climbed $2.04, or 2.2%, to $93.93. The
United States Oil
ETF was up 71 cents, or 1.4%, to $53.36. The
PowerShares Dynamic Energy Exploration & Production
rose 27 cents, or 1.3%, to $21.38.
On the other hand, ETFs tracking real estate were falling hard Friday as traders continued to fret about the health of credit markets. Among REIT stocks,
Simon Property Group
General Growth Properties
were down 1.3% or more.
Ultra Real Estate ProShares
gave back $1.01, or 2.3%, to $43.71. The
iShares Dow Jones U.S. Real Estate
was down 93 cents, or 1.3%, to $73.29. The
iShares FTSE NAREIT Mortgage REITs
was off 12, or 0.4%, to $31.26.
Bundled securities tracking the banking and financial sector were set to notch another losing session as the chances of an interest rate cut by the
at their September meeting dwindled, reigniting fears of liquidity problems in the market.
iShares Dow Jones U.S. Financial Services
was losing 86 cents, or 0.7%, to $122.75. The
iShares Dow Jones U.S. Regional Banks
gave back 30 cents, or 0.6%, to $46.99. The
Financial Select Sector SPDR
ETF sank 16 cents, or 0.5%, to $34.26. The
KBW Regional Banking
ETF was lower by 31 cents, or 0.7%, to $45.