Investing

Special Report: Chart Deaths of BRIC & Emerging Markets (EEM, VWO, EWZ, BRF, ECH, CH, RSX, TRF, CEE, EPI, PIN, IFN, IIF, FXI, GXC, TAO, HAO, CHN, TDF)

RUSSIA

The Vladimir Putin effect has already worn off, and the rest of the world is not as strong at backing that regime as much as the Russians themselves are.  Russia may now be energy independent and may be the new capitalists (or oligarchs), but the nation is far from being immune to the recessionary climate.  The proximity to Europe is now help.

Market Vectors Russia ETF (NYSE: RSX) closed down 2% at $24.80 and the 52-week trading range is $24.74 to $43.16 (52-week low was Monday).  Templeton Russia and East European Fund Inc. (NYSE: TRF) closed down 3.9% at $14.06 and the 52-week trading range is $14.06 to $25.97 (52-week low was Monday, and it closed on the low).  Central Europe & Russia Fund Inc. (NYSE: CEE) closed down 3.4% at $29.40 and the 52-week trading range is $29.20 to $47.93 (52-week low was Monday).

INDIA

India may be leading itself down at its own fault.  The nation has raised interest rates over and over in an effort to stave off inflationary pressures.  The problem is that the inflationary pressure has passed, and now you really have to ask yourself if the goal was to just slow down the economy.  Maybe the high gold prices that the citizens want for jewelry is being confused with inflation for the things that make up what you eat, drink, and wear.

WisdomTree India Earnings (NYSE: EPI) closed down 0.8% at 18.00 and the 52-week trading range is $17.98 to $28.72 (52-week low was Monday).  PowerShares India (NYSE: PIN) closed down 0.5% at $18.12 and the 52-week trading range is $17.93 to $26.72, but this was not quite a 52-week low.  India Fund, Inc. (NYSE: IFN) closed down 2.2% at $22.44 and the 52-week trading range is $22.44 to $40.94 (52-week low was Monday, and the close was on that low).  Morgan Stanley India Investment Fund, Inc. (NYSE: IIF) closed down 2.6% at $16.35 and the 52-week trading range is $16.35 to $30.45 (52-week low was Monday, and it closed on the low).

CHINA

China is entering a recession, but maybe not a classic recession.  The nation’s growth of 8% or higher is now looking like 4% or maybe even less.  For China that is a recession.  The real problem is China’s property and financial system outside of government guarantees.  Hedge fund manager Jim Chanos is winning big now on his short selling bets against China.  The arguments for China to float its currency have to be put on hold for the time being, because otherwise there is going to be an instant rise in the price of goods and it will instantly throw China into a real manufacturing recession.  The other issue at hand for China is its shoddy accounting, and we have even boasted that the most free speech in the world comes out of China from its corporate CFOs.

iShares FTSE China 25 Index Fund (NYSE: FXI) closed down 3.5% at $29.75 and the 52-week trading range is $29.71 to $47.99 (52-week low was Monday). SPDR S&P China (NYSE: GXC) closed down 3.5% at $53.83 and the 52-week trading range is $53,79 to $84.88 (52-week low was Monday).  Guggenheim China Real Estate (NYSE: TAO) closed down 4.1% at $12.69 and the 52-week trading range is $12.69 to $22.00 (52-week low was Monday, and low close).  Guggenheim China Small Cap (NYSE: HAO) closed down 5.1%% at $17.18 and the 52-week trading range is $17.18 to $33.57 (52-week low was Monday, at a low close). The China Fund, Inc. (NYSE: CHN) closed down 2% at $22.53 and the 52-week trading range is $22.50 to $35.33 (52-week low was Monday).  Templeton Dragon Fund Inc. (NYSE: TDF) closed down 1% at $23.96 and the 52-week trading range is $22.87 to $32.75 (did not hit low on Monday).