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Friday, December 30, 2011, 1:34 AM China’s manufacturing contracted for a second month in December, with HSBC's PMI coming in at 48.7 from 47.7 the month before. The weak manufacturing data adds pressure to officials to consider loosening monetary policy. 6 Comments [Global & FX]
Tuesday, December 27, 2011, 9:45 AM Against a late year rally that has brought U.S. shares to a 5-month high are continuing declines in China, with a 1.1% fall last night bringing the month's losses to 7.2% and the Shanghai Composite to its lowest close since March 2009. Among the losers was Anhui Conch, the country's largest cement maker, -2.4% for the session and 47% YTD amidst mass overcapacity in the sector. Comment! [Global & FX]
Tuesday, December 27, 2011, 2:26 AM Profit growth for Chinese industrial companies is slowing, according to newly released data, with net income +24.4% in the first 11 months of 2011 to 4.66T yuan ($737B). This compares to a 25.3% gain in the first 10 months, and a 27% gain in the first three quarters. Comment! [Global & FX]
Monday, December 19, 2011, 4:36 PM There's a bull market in planned analyst trips to China as suspicions grow it may be the next global crisis spot. With spotty official data, hedge funds are racing to get feet on the ground to complete the picture there. Are they late? Hugh Hendry - who chronicled China's empty skyscrapers and malls in 2009 - is up 52% this year in his "short China" credit fund. Shanghai's A share index is off nearly 25%. Comment! [Global & FX]
Thursday, December 15, 2011, 2:21 AM China's exporters will face "very severe" conditions in Q1 2012, says the country's Commerce Ministry. "The overall trade environment next year for China will be complicated, partly due to the economic uncertainties in the European countries." Comment! [Global & FX]
Thursday, December 8, 2011, 12:37 PM "I always argued that the quality of Chinese growth matters more than quantity," tweets Vitaliy Katsenelson on reading a story about the demolition of a Chinese luxury high rise because it began to lean just months after completion. What does Katsenelson know? It will have to be rebuilt - bullish for copper! Comment! [Global & FX]
Wednesday, December 7, 2011, 10:43 AM "If you ever wondered how the Chinese can slap together an infrastructure so fast, here's your answer: It literally slaps it together," writes Janet Tavakoli, defusing a few myths about China's unstoppable ascent. To time the crash, look for a marked increase in official "holidays" offshore - a signal of embezzled wealth fleeing the country. (pdf) 1 Comment [Global & FX]
Thursday, November 17, 2011, 1:25 PM Minyanville sees the case of Heineken's (HINKY.PK) foray into China as a cautionary tale for firms thinking about betting big in the nation. The brewer entered the beer market 1988 by buying into the dominant player. Trouble is: Chinese consumers don't like bitter beer, so Heineken's market share fell flat. Could the same consumer peaking process happen to MCD, KO, Pizza Hut/KFC, and other U.S. firms as they pour investments into expansion in China? 3 Comments [Quick Ideas]
Wednesday, October 12, 2011, 8:03 AM Treasury rates are shooting higher again - the 10 year back to August levels at 2.22%. The world may be changing, and it's not about Europe. China looks to be moving into easing mode - buying bank shares, lifting property restrictions, and trying to make credit more available. 4 Comments [U.S. Economy, Global & FX]
Monday, October 10, 2011, 8:15 AM Of the Chinese bank stock buys, the folks at beyondbrics note the last time China stepped in to buy the lenders was September 2008 - the stock market bottomed shortly afterwards. Off 28% this year, a popular China ETF, FXI is +2.3% premarket. Comment! [Global & FX, Financials, Quick Ideas]
Sunday, October 9, 2011, 9:27 PM "The world revolves around money, and it makes its own rules," says the CEO of China's Noah Holdings (NOAH). The company is a seller of wealth-management products, including trusts, which are exploding across the country as capital seeks better returns and businesses in need of credit seem willing to pay anything. The action reminds one professor of the conditions that led to the 1907 panic in the states. A great read about what sounds like a house of cards. 2 Comments [Global & FX, Financials]
Tuesday, October 4, 2011, 11:53 AM Standard Chartered's Stephen Green brushes off concerns of a hard-landing in China, saying authorities have plenty of room to ease policy. Green disagrees with the China-is-overbuilt meme, saying infrastructure projects are still necessary across the country. "China today is Japan circa 1970, not 1989." 1 Comment [Global & FX]
Monday, October 3, 2011, 5:33 PM Signs of the crackup of an epic credit bubble are everywhere in China, reports Patrick Chovanec. From the runaway bosses of Wenzhou to the boom and bust of a small fishing village to a baby formula maker borrowing to get into the metals and infrastructure business, it may not be a crisis, but "something is happening. People... are right to be nervous." Comment! [Global & FX]
Tuesday, September 20, 2011, 3:41 PM "This is happening now," says Jim Chanos of the property collapse in China. He relates a story from the chairman of Komatsu (KMTUY.PK), who says he is having trouble getting paid for machinery sales there. With the focus on Europe, the story people are missing is the reversal in the world growth machine. 5 Comments [Global & FX]
Friday, June 17, 2011, 1:03 PM Contrarians may have interest in the increasing conviction of short-sellers of Chinese shares. One example: in Wednesday trade in Hong Kong, 1/5th of the turnover of Chinese bank stocks was shorted. "The divergence (between bulls and bears) has never been so huge," says an analyst. 1 Comment [Global & FX, Quick Ideas]
Monday, June 13, 2011, 11:46 AM "There is no rationale for a country at that level of economic development to have not just duplication but triplication of those infrastructure projects," opines Nouriel Roubini, recounting a trip in China aboard a 1/2 empty high speed train, alongside a 3/4 empty highway, to a 3/4 empty station, next to a rarely used airport.
7 Comments [Global & FX, Commodities, Energy]

CHII Global X China Industrial ETF

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Global X China Industrial ETF