The Ukrainian stock market has been one of the worst performing in the world so far this year. It has declined 47% from its high on January 15, 2008. The average P/E is now a more respectable 16.
Despite this, Ukrainian companies continue to demonstrate strong fundamentals as the GDP is set to grow by an average 6% p.a. in 2008-2012.
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Well, maybe Ukraine is struggling, but there are many other frontier market countries doing well, and investment options. A good site I found is http://www.frontiermarketsetf.com that gives more info on these markets.
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