iShares China Large-Cap ETF

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  • Jun. 29, 2012, 7:32 AM

    Chinese industrial profits fell 5.3% Y/Y in May vs. a 2.2% drop in April. For the year's first 5 months profits declined 2.4% from the same period in 2011 (is it okay now to drop the canard that weak Chinese numbers are the result of the New Year holiday). Shanghai last night rallied with the rest of the world, +1.4%.

    | Jun. 29, 2012, 7:32 AM
  • Jun. 28, 2012, 6:50 AM
    Shanghai declines 1%, the 7th consecutive loss, and erasing the Index's gains for 2012. Along with the decline seems to be a lack of interest. Volume at the Shanghai exchange today was just 41% of the 2012 average, and investors opened the fewest trading accounts over the past 30 days on record, according to Bloomberg (data goes back to 2007).
    | Jun. 28, 2012, 6:50 AM | 1 Comment
  • Jun. 27, 2012, 4:54 PM

    The collapse of a property developer in Hangzhou causes a mini-financial meltdown in the city and shines more light on so-called "credit guarantees," reminiscent, says Patrick Chovanec, of the circular arrangements common on Wall Street prior to 2007. Chovanec may be doing disservice to China, which appears to have outdone anything concocted in the U.S. during its credit bubble.

    | Jun. 27, 2012, 4:54 PM
  • Jun. 27, 2012, 7:48 AM

    "China's economy will remain in the doldrums," with a range-bound stock market a result, says Yu Guang, a mutual fund manager, and currently the hot hand in regards to China. He sees the government doing just enough to support the economy, but taking no aggressive measures. The top-performing sector in Shanghai thus far in 2012? Property stocks (TAO) +21%.

    | Jun. 27, 2012, 7:48 AM
  • Jun. 27, 2012, 7:40 AM

    Chinese shares fail to participate in a broad global rally, falling for a 6th consecutive day, though down just 0.3%. Daiwa joins the list of those cutting GDP growth estimates, now predicting 7.8% Q2 GDP growth from 8.2% (Q2 ends Saturday - thanks guys). The bank trims its full-year forecast to 8.2% from 8.3%, saying a "mini stimulus" plan will keep things moving.

    | Jun. 27, 2012, 7:40 AM | 1 Comment
  • Jun. 25, 2012, 7:33 AM

    Policy ease isn't yet taking in Shanghai, where Monday's 1.6% slide brought Composite Index to a 5-month low. Kudos to those who sold the rally following the June 7 cut in rates - the market is off about 6% since. At a PE of 9.7X vs. a 5-year average of 17.7, the Shanghai Composite seems cheap, but how trustworthy are the profits? A look at FXI vs. SPY YTD.

    | Jun. 25, 2012, 7:33 AM | 1 Comment
  • Jun. 25, 2012, 7:21 AM

    China Evergrande - the property developer last week accused of massive fraud and of being technically insolvent - is no Sino-Forest. The county's 2nd largest property developer, the company is likely too big and too well-connected to fail. The allegations will force a 2nd look at John Hempton's description of China as a kleptocracy on a scale never before seen in human history.

    | Jun. 25, 2012, 7:21 AM | 1 Comment
  • Jun. 20, 2012, 11:35 PM
    China HSBC Flash PMI for June falls to 48.1 from the 48.4 final read for May. It's the 8th consecutive month of contraction for the manufacturing sector. New export orders fell to 45.9, the lowest level since March 2009, and both input and output prices fell to their lowest levels in 2 years. Shanghai -1.4%, Hong Kong -0.9%, Sydney -0.9%. The aussie -0.3%.
    | Jun. 20, 2012, 11:35 PM | 3 Comments
  • Jun. 14, 2012, 3:14 AM

    China's growth forecast was lowered by Credit Suisse and Deutsche Bank to 7.7-8.0% and 7.9-8.2% respectively. The predictions indicate the weakest growth since 1999 as corporate profits fall and deflation looms. To unleash productivity gains, the government should break monopolies in banking and utilities, open the services industry, and deregulate interest rates and the exchange rate, suggests Credit Suisse. (previously)

    | Jun. 14, 2012, 3:14 AM | 1 Comment
  • Jun. 12, 2012, 7:26 AM

    Shanghai continues to slide, -0.7%, and off about 7% in the last month. Leading last night's decline were the steel producers after Baoshan Steel - the country's 2nd largest - slashed prices in the face of slowing demand. (China's mountains of iron ore)

    | Jun. 12, 2012, 7:26 AM
  • Jun. 11, 2012, 12:04 PM

    "China is a kleptocracy of a scale never seen before in human history," writes John Hempton, fueled by rapid growth from moving peasants to factories and astoundingly high negative real interest rates. Amazingly, low inflation could be the trigger to end it, as this would force corrupt state-owned businesses to borrow at positive real rates - a scenario they cannot withstand.

    | Jun. 11, 2012, 12:04 PM | 3 Comments
  • Jun. 11, 2012, 10:55 AM

    China's weekend data dump shows a slowing economy, but it's not as disastrous as many had expected. What is does suggest is - contrary to expectations - the PBOC rate cut may not be the beginning of massive easing, but instead the momentary end to easing that's already taken place.

    | Jun. 11, 2012, 10:55 AM | 3 Comments
  • Jun. 8, 2012, 9:56 AM
    Chinese regulators are reportedly limiting access to corporate filings after a series of incidents in which short-sellers used the information in said filings to deduce accounting irregularities and outright fraud. Sounds like a plan.
    | Jun. 8, 2012, 9:56 AM | 6 Comments
  • Jun. 8, 2012, 7:08 AM
    It was an ugly session in Asia following the PBOC rate cut as the headlines switched from "Stocks rise on PBOC" to "Stocks decline on PBOC," with the idea now of Beijing in a bit of a panic over the Chinese economy. One excellent indicator: The aussie, shooting higher on the heels of yesterday's announcement, only to reverse and trade down to $0.9840 currently.
    | Jun. 8, 2012, 7:08 AM | 3 Comments
  • Jun. 7, 2012, 2:46 PM

    A trader's timing may have been too good on this one, writes Steve Sears: Yesterday, an investor sold 20K July $25 puts on FXI, using the proceeds to buy 20K July $37 calls - a bet on a big and quick move higher in the popular China ETF. This morning's PBOC rate cut had FXI opening up 2.8% and the calls higher by 83%.

    | Jun. 7, 2012, 2:46 PM | 6 Comments
  • Jun. 7, 2012, 8:25 AM
    China's rate cut means this weekend's data dump is going to be very bad, says Bloomberg's Michael McDonough, who adds the move implies more substantial measures to help growth are coming. Allowing banks to offer a 20% discount to the official rate suggests the country is moving closer to interest rate liberalization.
    | Jun. 7, 2012, 8:25 AM
FXI Description
The iShares FTSE China 25 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE China 25 Index.
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Country: China
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