Overseas-related exchange-traded funds were among the best performers Friday, thanks to a surge in Asia's indices overnight.
Japan's Nikkei 225 Index jumped 2.6%, Hong Kong's Hang Seng Index surged 2.1%, and China's CSI 300 rose 1.1%. Other measures in Taiwan, South Korea and Indonesia were higher, as well.
SPDR S&P China
(GXC) ETF was adding $3, or 3.9%, to $79.91. The
iShares FTSE/Xinhua China 25 Index
(FXI) was higher by $5.56, or 3.8%, to $152.05.
iShares MSCI Emerging Markets Index
(EEM) ETF was up $4.47, or 3.4%, to $135.05, and the
iShares MSCI South Korea Index
(EWY) ETF was higher by $2.32, or 3.7%, to $64.72.
Oil-related bundled securities rose as crude prices pushed above the $74-a-barrel level earlier. Recently, the front-month October crude contract advanced 46 cents to $73.81 a barrel.
Ultra Oil & Gas ProShares
ETF was gaining $2.99, or 3.2%, to $97.72. The
Oil Services HOLDRs
rose $3.80, or 2.2%, to $179.31, and the
iShares Dow Jones U.S. Oil Equipment Index
increased $1.22, or 2.1%, to $59.50.
Homebuilder ETFs strengthened after
Chairman Ben Bernanke addressed the current subprime mess and President Bush moved to offer federal help to mortgage borrowers.
iShares Dow Jones U.S. Home Construction
ETF was tacking on 52 cents, or 2.3%, to $23.58. The
SPDR S&P Homebuilders
ETF was climbing 49 cents, or 2%, to $24.78.
On the other hand, bundled securities following U.S. Treasuries were among few losers of the day, as traders made their way out of bonds and moved into equities. The 10-year note was recently down 3/32 in price, yielding 4.52%.
iShares Lehman Credit Bond
ETF eased by 27 cents, or 0.3%, to $99.52. The
iShares Lehman Long-Term Treasury
ETF was lower by 12 cents, or 0.2%, to $51.42. The
Vanguard Long-Term Bond
ETF was off 15 cents, or 0.2%, to $74.62.