Performance of Asian Markets and related Unit Trusts during the correction from 24 Jul 07 to 17 Aug 07

The current correction caused by the sub-prime & credit crisis in the US should not be hitting the Asian markets that hard, but somehow it did, and the Asian markets tumbled even more than the US markets. I've summarized the major Asian markets' and selected unit trusts' performances during this period (% in brackets are the YTD returns from 29 Dec 06 till 17 Aug 07):

Asia ex Japan
MSCI Asia ex Japan -17.6% (+5.2%)

Aberdeen Pacific Eqty -14.4% (+3.8%)
Lion Capital Asia Pacific -16.9 (+4.8%)
UOB United Asia Fund -20.1% (+9.3%)

Australia
All Ordinaries -12.3% (+0.3%)
MSCI Australia -20.8% (+0.4%)

Fidelity Australia AUD -11.0% (+0.6%)
Lion Capital Australia -21.7% (+2.1%)

Singapore
STI -14.6% (+4.9%)
MSCI Singapore -16.3% (+5.7%)

DWS Singapore Eqty -13.6% (+14.8%)
Aberdeen Singapore Eqty -13.9% (+7.2%)
Lion Capital Singapore Trust -14.3% (+9.8%)
DBS Shenton Thrift -16.9% (+8.7%)

Malaysia
KLSE -14.4% (+8.7%)
MSCI Malaysia -17.3% (+10.0%)

Aberdeen Malaysia Eqty -11.6% (+9.3%)
Fidelity Malaysia USD -15.4% (+14.3%)
DBS Malaysia Eqty -18.4% (+7.5%)
Lion Capital Malaysia -25.5% (+17.2%)

Thailand
SET -13.9% (+11.6%)
MSCI Thailand -17.7% (+16.8%)

Aberdeen Thailand Eqty -12.1% (+8.9%)
Lion Capital Thailand -14.0% (+17.7%)
Franklin Templeton Thailand -14.3% (+11.6%)
Fidelity Thailand USD -17.4% (+16.7%)

Indonesia
Jakarta Composite -20.5% (+5.7%)
MSCI Indonesia -22.4% (-1.4%)

Aberdeen Indonesia Eqty -17.3% (-2.5%)
Fidelity Indonesia USD -24.7% (-6.0%)

Philippines
PSE -22.2% (-3.3%)
MSCI Philippines -26.2% (+1.3%)

Lion Capital Philippines -23.8% (+2.5%)

Korea
KOSPI -17.8% (+14.2%)
MSCI Korea -20.4% (+9.5%)

Franklin Templeton Korea -13.1% (+15.1%)
Lion Capital Korea -17.4% (+14.1%)
Fidelity Korea USD -19.3% (+14.7%)

India
SENSEX -10.5% (+2.6%)
MSCI India -12.9% (+9.3%)

Aberdeen India Opportunities -8.7% (+7.0%)
First State Reg India -8.9% (+7.6%)
Lion Capital India -11.2% (+7.3%)

China, HK, Taiwan (Greater China)
Shanghai Composite +10.6% (+74.0%)
Hang Seng -13.2% (+2.1%)
Taiwan Weighted -17.0% (+3.4%)
MSCI China -18.4% (+9.6%)
MSCI Taiwan -18.0% (-3.0%)

Aberdeen China Opp -11.3% (+10.0%)
Fidelity China Focus SGD -12.7% (N.A.)
Lion Capital Taiwan -14.1% (-0.9%)
DWS China -14.5% (+19.4%)
Fidelity Taiwan USD -14.8% (+3.4%)
First State Reg China -15.1% (+16.2%)
Lion Capital China Growth -15.4% (+13.4%)
SGAM Golden China SGD -15.9% (+11.2%)

Japan
Nikkei 225 -15.2% (-11.3%)
MSCI Japan -11.3% (-7.5%)

Lion Capital Japan Growth -9.0% (-7.9%)
DBS Japan Growth -10.9% (-6.5%)

Thus the top ranking markets in the following order for the duration of the correction (YTD returns in brackets):

1. Shanghai Composite +10.6% (+74.0%)
2. India SENSEX -10.5% (+2.6%)
3. Aust All Ordinaries -12.3% (+0.3%)
4. Hang Seng -13.1% (+2.1%)
5. Thai SET -13.9% (+11.6%)
6. KLSE -14.4% (+8.7%)
7. STI -14.6% (+4.9%)
8. Nikkei 225 -15.2% (-11.3%)
9. Taiwan Weighted -17.0% (+3.4%)
10. MSCI Asia ex Japan -17.6% (+5.2%)
11. KOSPI -15.1% (+18.0%)
12. Jakarta Composite -20.5% (+5.7%)
13. Philippine SE -22.2% (-3.3%)

As can be expected, Aberdeen came up tops with their 'value' style investing. When markets rally, Aberdeen will underperform the rest, but when things go bad, you can expect them to outperform. Updated using Aug 17 values.