ASEA

Philippine stocks rocketed to a nine-month high after a shock interest rate cut. Gain exposure to the country's stocks with these ETFs.

Among Southeast Asia's major economies - ASEAN-6 - Indonesia and the Philippines have currently almost 360,000 confirmed COVID-19 cases each. According to WHO's models, the real number could be 3.5 million or more.If the modeled estimates are some 10 times higher than the confirmed cases, the longer-term human costs and economic damage could prove significantly more burdensome than currently anticipated.Among the ASEAN-6 economies, only Vietnam is expected to avoid a contraction in 2020, in part thanks to US trade and technology war against China. Improved GDP growth has been fueled by recovery in exports, which has benefited from offshored manufacturing capacity from China. Yet, foreign investment flows have fallen.

Following the continued rally in US markets on news of a stimulus package and support from the Fed, investors began looking towards international markets for greater returns.The Global X MSCI Argentina ETF was the best performing single-country ETF within the International Access Suite, returning 45.14% during the quarter.Although the Global X Colombia ETF and the Global X Portugal ETF were the bottom performers within the international suite in Q2, they both still managed to outperform the S&P 500 for the quarter.