Asia Trade Looking Bleak as Investors Flee Japan, Malaysia and China
Asia's financial markets began the week with more selling. Japan's Nikkei dropped the most in 9 months today on concerns that a stronger yen will hurt sales of Japanese exporters such as Toyota . Meanwhile, Malaysian shares dropped the most since 2002 and Chinese stocks trading in Hong Kong slid 5 percent on concerns that China's economic growth will slow. After being the global darling of investors, has the fast money been made in Asia?
Bolling said. "There are a couple trades I still like. The South Korean ETF (EWY)is the play. EWY holds POSCO, which will continue to benefit from global demand for steel."
Guy Adami agreed. He also liked the South Korean ETF because it has a more reasonable valuation than China. He also likes the Taiwan ETF (EWT) for the same reason.
Tim Strazzini added “I still like these names but there’s no reason to get involved with them now.” Strazzini has recommended the iShares MSCI Malaysia ETF (EWM) in the past.
Guy Adami said you will be reward if you’re in the Taiwan ETF.