12/09/15: South Africa Replaced Its Finance Minister—rand tumbled along with iShares South Africa ETF

NewsHedge Alert: 12:30:09pm        Ticker: EZA

Alert Price: $48.96        Change: – 12.79% within two trading sessions

UNUSUAL TRADING REPORT

Catalyst: (news)  South Africa replaced its finance minister Wednesday and the rand tumbled, including the iShares MSCI South Africa ETF(EZA). Barclays warned last week that ratings changes — possibly imminent for Turkey and South Africa –would mean that some funds are forced to sell debt, further pressuring weak countries.

EZA-12_09_2015

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