Here's a look at my ETF winners and losers for the week.

Winners

Claymore China Real Estate ( TAO) +7.67%

SPDR S&P China ( GXC) +2.98%

Claymore China Small Cap ( HAO) +2.62%

iShares FTSE China 25 ( FXI) +1.88%

This week was a good one for Asia, especially China. While U.S. real estate prices are still looking for a bottom, China's real estate sector helped push the nation's Shanghai index to levels not seen since last July. Real estate saw its increases due to growing expectation that inflation will pick up from its otherwise low levels in the near future.

Such an event would lead to housing becoming more valuable. The strengthening of the Chinese yuan to the U.S. dollar also helped to increase China's gains this week. Last week I commented on a number of these funds in one of my weekly articles.

iPath DJ-UBS Nickel Total Return ( JJN) +4.42%

DB Base Materials ( DBB) +3.41%

iPath Copper Total Return ( JCC) +3.20%

Metal commodities also saw a number of winners. As I mentioned earlier this week in this article, nickel has been on a run recently. However, copper managed to rally as well as mining companies such as Xstrata Plc, whose failed merger plans with Anglo American saw some coverage this week, saw prices for copper hit a two-week high in Asia.

iShares Dow Jones US Home Const ( ITB) +2.31%

SPDR S&P Homebuilders ( XHB) +2.85%

Even after negative news concerning the growth of new vs. old homes, Homebuilder ETFs saw a positive boost this week. Much of this gain was due to positive news coming from homebuilding firm, Lennar, which posted better-than-expected second-quarter results causing the stock to surge. This gain brought with it ETFs such as ITB and XHB, both of which are heavily weighted in the firm.

Losers

iShares MSCI United Kingdom Index ( EWU) -3.37% SPDR S&P Emerging Europe -3.35%

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