As investors are pulling out their hair watching stocks plummet in the stock market, there are some emerging market stocks doing quite well. And one sector that continues to improve in many regions is, strangely enough, financials. That's because as emerging economies build infrastructure and get businesses up to speed, they rely on loans to finance rapid growth. Similarly, emerging middle classes sock away more cash in banks as they have more disposable income and a desire for greater financial security.
Here are seven foreign financial stocks that have each seen values soar this summer, producing year-to-date returns for investors that all top +20%. While big bank stocks in the U.S. are flopping, financial stocks in South America and India are enjoying some impressive success in 2010.
Emerging market investors may want to take a close look at these financial stocks right now.