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In the past month, the iShares MSCI Sweden ETF has fallen almost 7 percent from 34.75 to 32.37.

This year has been a fruitful one for the airline industry, but China Eastern (CEA) has certainly been making the best of it. In the past year, the company's stock is up by almost 170 percent,

The Japanese Yen has taken quite a tumbling recently due to quantitative easing and concerns of low domestic growth The AUD has been struggling to gain traction against the U.S. dollar, while ranging against other currencies such as the euro.

Since mid-June the yen has been appreciating significantly against many major currencies, including the Aussie dollar. The appreciation has been spurred mainly by comments from the Bank of Japan that a selloff of JPY is overdone.

Given that much of Norway's economy has relied on the export of energy and other natural resources, a drop in commodity prices may make Norway an attractive value proposition compared to other European markets.

While the effects of the ECB's quantitative easing have not been universal across all euro member states, Slovakia's financial system has benefited quite substantially.

In spite of a temporary dip, I still see the KOSPI as having significant appreciation prospects ahead based on general stock undervaluation, coupled with prospects of lower interest rates and rising exports.