Overseas-related exchange-traded funds were among the best performers of the week as Asia's markets hurdled higher.
During the five sessions, Hong Kong's Hang Seng soared 14%, China's Shanghai Composite surged 9.7% to an all-time high, and Japan's Nikkei 225 Index jumped 6.4%.
iShares FTSE/Xinhua China 25 Index
jumped 15.4% at $143.55. The
SPDR S&P China
ETF added 15.2% to close at $74.82. The
SPDR S&P Emerging Markets
finished up 8.6% to $66.78. The
iShares MSCI South Korea Index
gained 6% to $62.
Basic materials-related bundled securities were also strong. Among individual stocks,
climbed more than 10%.
Ultra Basic Materials ProShares
ETF rose 13.3% to $82.43. The
iShares Dow Jones U.S. Basic Materials
ETF added 6.4% to close at $68.05. The
Materials Select Sector SPDR
ETF climbed 6.7% to $39.36.
REIT-related ETFs also finished the week with gains, as the recent turmoil in the credit markets eased somewhat.
Ultra Real Estate ProShares
ETF advanced 5% to $44.25. The
Vanguard REIT Index
ETF rose 1.9% to $68.91. The
iShares FTSE NAREIT Mortgage REITs
finished up 1.2% for the week to $31.52.
On the other hand, regional bank ETFs lost ground. The
KBW Regional Banking
ETF eased 1.4% to close at $45.70. The
Regional Bank HOLDRs
ETF fell 0.6% to $151.67. The
iShares Dow Jones U.S. Regional Banks
dipped 0.4% over the five sessions to end at $47.60.