Other ETFs indexed to Southeast Asian stocks also sold off Tuesday amid fears over potential U.S. military action against Syria. The iShares MSCI Philippines (NYSEArca: EPHE) was down 6.2% while iShares MSCI Thailand (NYSEArca: THD) fell 3.6% and Market Vectors Vietnam (NYSEArca: VNM) shed 2.1%.
“The selling reflected the weakness in regional peers on Monday when the Philippine market was shut for a public holiday, uncertainty over when the U.S. Federal Reserve would taper its monetary stimulus and weak economic data making the region vulnerable to capital outflows,” The Star Online reports.
“It’s still the same concerns about the upcoming possible tapering of the Fed and then regionally we’re seeing weakness from our Asian neighbors,” said April Lee-Tan, research head at COL Financial in Manila, in the article.
iShares MSCI Indonesia
