With less than three weeks before the last trading session of the year, equity markets in the Mideast appear set to deliver the strongest (and perhaps only) gain for 2018 among the world’s major regions, based on a set of exchange-traded products.
Despite a surge in market volatility around the world in recent months, WisdomTree Middle East Dividend (NASDAQ:GULF)has remained mostly steady, holding on to a solid year-to-date performance. The ETF, which tracks a fundamentally weighted index of companies that pay dividends, is up 10.4% this year through yesterday’s close (Dec. 11). The fund is the only regional Mideast equity ETF and its bull run for 2018 is an upside outlier compared with the rest of the field.
The US equity market is technically in the black, but just barely, based on the SPDR S&P 500 (NYSE:SPY). At the close of trading on Tuesday, SPY’s total return was a slight 0.3% for the year.
Otherwise, the major regional slices of the global equity markets remain underwater for 2018, in several cases by substantial degrees. The biggest year-to-date loss continues to be held by VanEck Vectors Africa (NYSE:AFK), which is has been cut by nearly 20%.
The widespread selling across most global equity markets generally this year is conspicuous via Vanguard Total World Stock (NYSE:VT), which is currently nursing a 6.7% year-to-date decline.
Read more at : https://www.investing.com/analysis/mideast-stocks-on-track-as-topperforming-region-for-2018-200367310