Bookkeeping: Closing iShares Signapore (EWS)

I closed my position in iShares Hong Kong (EWH) last week, and am now closing iShares Singapore (EWS). While I like Singapore for the long run, its a finance based economy so could be open to some slowdown if we get a global/Asian slowdown. Contrast this to Malaysia (I still am keeping my iShares Malaysia (EWM)) which is more of an export country with natural resources - sort of a mini Brazil.

This was a 1% position ($11k) which I failed to take any off the table (layer out in smaller sales) in the $15+ range, so essentially I made zilch on this position which I started the very first day of the fund. Technically the index is sitting at its 200 day moving average and is poised for a bounce back, but with other opportunities opening up, and heightened risk in Asia (in my opinion), I will use this cash in other places.

While Asia markets have corrected along with US markets, the full effect of the US slowdown on their growth probably won't be recognized until 2008. So this is not a short term call, as this index is at a good support area and probably will bounce, but this is more of a long term outlook.

Long iShares Malaysia in fund; no personal position