Overseas-related exchange-traded funds were among the best performers Wednesday, despite a slide in Asian indices overnight.
Japan's Nikkei 225 Index lost 1.7%, Hong Kong's Hang Seng Index sank 1.5% and China's CSI 300 Index shed 1.5%, after partially recovering from steeper early losses. Other indices in Taiwan, South Korea and Indonesia finished lower as well, also after rallying from earlier lows.
Still, investors appeared to take heart in the comebacks. The
iShares FTSE/Xinhua China 25 Index
was higher by $6.65, or 4.7%, to $147.35. The
PowerShares Golden Dragon Halter USX China
was higher by $1.07, or 4.1%, to $27.22. The
SPDR S&P China
was adding $3.21, or 4.3%, to $77.40. The
Vanguard Emerging Markets Stock
was up $3.23, or 3.7%, to $91.63.
Oil-related bundled securities were higher as crude prices spiked following the Energy Department's latest inventory report. The front-month October crude contract advanced $1.46 to $73.19 a barrel. Earlier, the Energy Department said that gasoline stocks fell by 3.6 million barrels last week. Crude stocks, meanwhile, fell by a greater-than-expected 3.5 million barrels.
Ultra Oil & Gas ProShares
was gaining $2.91, or 3.2%, to $92.74. The
iShares Dow Jones U.S. Oil Equipment Index
rose $1.17, or 2.1%, to $57.67. The
SPDR S&P Oil & Gas Equipment & Services
was higher by 62 cents, or 1.7%, at $36.48.
Homebuilder ETFs strengthened, despite news that Fitch Ratings downgraded its credit ratings on several homebuilders late Tuesday.
were adding nearly 4% or more.