In my previous article on BlackRock's iShares MSCI Singapore ETF (NYSEARCA:EWS) I compared it against their ETF for Hong Kong (EWH) as these are two well-developed business hubs in Asia which many investors compare against each other as to where they want to invest. At that time, I chose Singapore over Hong Kong, but with a caveat that EWS was a "Hold" at that time. It has come down 12.2% over the last six months, although the trend tried to reverse in the middle of March it has since started to go down again.