We are big fans of the Turkish market around here, but it says something when the world's second-biggest economy, growing at a rate of nearly 9% a year, is trading at the same valuation. China is indeed valued in line with Turkey, with the broad China ETF YAO ( quote ) and the Turkish fund TUR ( quote ) both running at a P/E ratio of 8. And if that was not enough, China is now priced at a record discount to its peers in the broad emerging ( EEM , quote )and developed ( EFA , quote ) markets. When China reopens on Monday following the lunar new year break, we should see Shanghai pick up the baton and lead the emerging markets again. Given recent macro data and liquidity improvement -- per M2 growth in China and the Fed's policy globally -- there are plenty of catalysts here. China is 16% of EEM, so any big move in EEM has to include China. And on the flip side, if China truly rallies, EEM almost has to move higher. Tomorrow is your last chance to get into the ETFs and stocks before Shanghai gets its first chance to react to what has been a strong week just about everywhere else. On Monday, if Shanghai closes up, these ticker symbols will almost certainly gap higher.