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Emerging Market Stocks Down for Fourth Day


Plus, 2G auction in India drives lukewarm response, and more!

This column highlights some of the best financial commentary on emerging markets from around the Web.

"Emerging-Market Stocks Post Longest Rout Since August on China"
For the fourth day, emerging market stocks were down. Holdups to Greek aid and a sense China will continue to expand its new property tax were likely driving the longest dip since August. Among the stocks falling: Gerdau SA (NYSE:GGB), Centrais Eletricas Brasileiras (NYSE:EBR.B), and Gazprom (PINK:OGZPY) all sunk to significant levels. Read more at Businessweek.

"Sasol, Gazprom Among Citi's Energy World Champions"
Citigroup (NYSE:C) analysts have elected a few global energy providers as "world champions." While Exxon Mobil (NYSE:XOM) and Schlumberger (NYSE:SLB) are listed, two oil companies in emerging markets are highlighted as well: Russia's Gazprom and South Africa's Sasol (NYSE:SSL). Read more at Emerging Market's Daily.

"VWO: Should I Stay or Should I Go?"
In three years, the Vanguard MSCI Emerging Markets ETF (NYSEARCA:VWO) has swelled to the third largest exchange traded fund on the market. In October, Vanguard decided it would switch the fund's benchmark to the FTSE Emerging Index, which does not include South Korean equities. For investors considering moving out of VWO, iShares MSCI Emerging Markets Index (NYSEARCA:EEM) and WisdomTree Emerging markets Equity Income (NYSEARCA:DEM) might be worth a look. Read more at Morningstar.

"Brazil Retail Sales Fall for Fourth Straight Month in September"
Supermarket sales drove the growth, battling against slumping auto and retail sales. Sales grew by 0.3% from August, and up 8.5% from the year before. This growth is inline with the 1% to 1.5% growth in Brazil's GDP expected by economists. Read more at Reuters.

[Many investors have exposure to Brazilian growth through iShares MSCI Brazil Index ETF (NYSEARCA:EWZ).]

"Lukewarm Response to 2G Auction on Day 1"
A Supreme Court-ordered 2G spectrum auction drew low bids on Monday in India, whose government hoped offset their looming deficit by offering its telecom rights at auction. The auction comes after a it was revealed a past-telecom minister had granted 122 licenses illegally. Bharti (BOM:532454), Vodafone (NASDAQ:VOD), Idea (NSE:IDEA), Telenor (PINK:TELNY), and Videocon (NSE:VIDEOIND) are bidding for the 2G GSM spectrum. Read more at The Hindu.

Twitter: @brokawbrokaw

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