I
give the iShares MSCI Hong Kong ETF (EWH) a hold rating, as its recent 41% surge has stretched valuations and warrants patience before reentering at lower levels. While Hong Kong's economy is stabilizing due to exports and financial services, consumption remains weak and property markets struggle.

    The fund is heavily concentrated in AIA Group and HKEX, with financials offering growth potential but real estate hindering performance. Although the 3.6% dividend yield is attractive, concentration and geopolitical risks justify caution until valuations reset.