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I'll continue guess the best performing single country ETF year to date -- take a look at -- the top story number story.
IShares MSCI Philippines market it back.
-- over iShares MSCI Turkey's market index and get this number ones.
If he is yes.
The market investors heat index up over 33% that very fast and -- -- -- We -- from Fox Business exclusive.
We need to really yeah right I know that's coming off between eleven year where -- Egypt a lot of emerging markets were down -- was down 50%.
And yet figured out where a lot of these terms came from this year.
About 42% of it came in January February and hand it's it's dropped about 9% since then so.
And there's a lot of stuff -- a lot of very volatile -- that's like that's all new volatile this.
Yeah absolutely brilliant if you're an experienced yet there been recent days where it's jumped 12% on on the election of more C.
And dropped 6% on other days and in when he decided to defying the the military and reconvene his parliament.
So very volatile situation they're still.
Really asking the obvious question here is that Egypt is -- in their economy and they used to have 70% to eighty paid before -- Arab -- announced one point something percent.
They depended on tourism.
That was their main.
Import export whatever you wanna call it passed -- -- for the time being amateurism was as big part of it.
I think one of the things that a lot people really realised that Egypt and and -- that they're in middle leases they might think and it's an oil and then petroleum played it.
They're very diversified economy agriculture tourism banking.
OK Ed stand Everest two seconds -- -- take our viewers sent to destroy for just one moment.
Wanna say the -- -- industrial average ticket at this point the Dow just crossing that too.
Under market don't wanna -- viewers this because now we are positive for the week if we get hold -- level.
-- -- hold 12100773.
We're gonna be positive for the week on the Dow and the S&P as well at this point turning positive for the we going to bring our nearest tension at pardon me I'm aware watching these numbers very close as we get to the close.
So what were the things that I dipped as well -- the foreign reserves have tumbled so there's concern obviously got this change in leadership.
Can build that back up do you think that the Europeans are going to be there to support and a bit of France Telecom just -- The Telecom company in Egypt Korea is seen more that do you think.
Well I think it's really dependent on if the the political system can resolve itself they've they've spent about 60% other foreign reserves trying to defend their currency picture and did they have this indication from the IMF that dole -- -- -- -- -- another three billion but it's contingent upon.
The government coming together and approving a budget and that includes.
Some some tough choices that they have to make like at the subsidies I think I mean the subsidies are about 10% of GDP.
So lot of people are dependent on that side that they have some hurdles to overcome.
And if they can come together and get a government working again I think that's gonna help.
What was -- -- top holdings -- you know as it's it's communication it's media it's food it's all the things that the country needs to survive an animal survives a -- -- Lopez really interesting take.
Surprising move from from you guys Bennett securities marketing director thank you had.
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