U.S. markets are closed today, honoring former President Gerald Ford.  A peek at world markets can give us a clue as to how exchange traded funds (ETFs) might start off the new year.

Markets in Hong Kong and Indonesia hit record highs and Taiwan reached a recent high.  ETFs to watch are iShares MSCI Hong Kong (EWH), up 27% in 2006 and iShares MSCI Taiwan (EWT), up 16%. 

European markets also rallied to near record highs for the start of 2007.  While there are ETFs representing single countries in Europe, general European ETFs to watch include, streetTRACKS DJ Euro Stoxx 50 (FEZ), iShares S&P 500 Europe 350 (IEV) and iShares MSCI EMU Index (EZU).  These funds were up 28%, 30% and 33% respectively in 2006.

For full disclosure, some of Tom Lydon’s clients hold EZU.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.