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Dear Value Investors, As for August, the best performing regional indexes were India (+9.44%), Philippines (+9.33%) and Hang Seng China Aff. CRP (+9.16%), while the laggards were Singapore (-3.53%), Hang Seng China Enterprises (-0.54%) and Hang Seng Index (-0.32%). Most currencies in the region strengthened against the USD.

Dear Value Investors, As for July, the best performing regional indexes were Indonesia (+1.14%), Singapore (+1.17%) and India (+0.20%), while the laggards were Hang Seng China Ent Index (-13.41%), Hang Seng China Affiliate (-10.19%) and Hang Seng Index (-9.94%). Most currencies in the region weakened against the USD,