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Bullish on the Russian Bear

By Don Dion

 About this article:
 Holders of Market Vectors Russia ETF may see a small bounce on the addition of more Russian companies to the MSCI Emerging Markets Index. In the past five days, the RSX, which is designed to track the aggregate Russian market, has jumped nearly 7.5%. For the year to date through Nov. 10, the fund has logged nearly 140% in gains. This nation's stock market advance has not gone unnoticed -- big-name indices are reportedly considering increasing exposure to the Russian bear, according to Bloomberg. The MSCI Emerging Markets Index, which is the basis of the iShares MSCI Emerging Market Index ETF, may soon increase its Russian exposure with the addition of OAO Magnit, OAO Magnitogorsk Iron and Steel and preferred shares of OAO Sberbank. Russian firms currently make up 6.7% of the total index. MSCI is scheduled to announce any changes to its indices in New...

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