Seeking Alpha
 

Market Vectors Chinese Renminbi/USD ETN (CNY)

- NYSEARCA
  • Oct. 13, 2013, 9:44 PM
    | Oct. 13, 2013, 9:44 PM | 2 Comments
  • Oct. 13, 2013, 1:27 AM
    • China's exports slipped 0.3% on year to $185.6B in September vs +7.2% in August and consensus for growth of 6%.
    • Imports grew 7.4% to $170.4B vs +7% and +7%.
    • The trade surplus declined 45% to $15.2B.
    • Although the drop in exports raises concerns about global demand and the staying power of China's recent economic recovery, analysts point out that the over-invoicing of exports may have inflated the numbers in September 2012.
    • Meanwhile, customs spokesman Zheng Yuesheng played down the fall as seasonal and said that it anyway shows that as per government policy, "China's economic development has transformed from being driven by external demand to domestic demand."
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 13, 2013, 1:27 AM | 5 Comments
  • Oct. 10, 2013, 3:07 AM
    • Chinese Premier Li Keqiang said his country's GDP probably expanded more than 7.5% in the first nine months of the year, with the economy showing "stronger momentum of steady growth” in the past few months.
    • Economists estimate that GDP accelerated to +7.8% in Q3 from +7.5% in Q2. The data is due out on October 18.
    • Everbright Securities economist Xu Gao says the recovery is "obvious in the third quarter, but whether the momentum can be sustained is open to question."
    • Shanghai Composite -1%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 10, 2013, 3:07 AM | 1 Comment
  • Oct. 8, 2013, 2:09 AM
    • HSBC China services PMI declined to 52.4 in September from 52.8 in August and came in well below the official reading of 55.4.
    • With HSBC focusing on smaller private companies and the official figure on larger state-owned enterprises, the data could indicate a two-tier recovery.
    • HSBC composite output dipped to 51.2 from 51.8.
    • An increase in new business offset a fall in new orders, although business expectations dropped sharply to 58.7 from 62.
    • "The Chinese economy is still on the way to a modest recovery," says Markit. "But a more consolidated and sustainable recovery requires structural reforms.
    • Shanghai Composite +1.1%. (PR)
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 8, 2013, 2:09 AM | Comment!
  • Oct. 3, 2013, 3:27 AM
    • The reading of 55.4 represents a six-month high and contrasts with lower-than-expected manufacturing PMI surveys.
    • The gauges for new orders, retail spending and the logistics industry index grew, while tourist numbers for this week's Chinese holiday increased as well.
    • "The rising service PMI suggests that the recovery in Q313 was quite broad based," says Bank of America's Lu Ting. The "robust" service sector indicates that the chances of a hard landing are low. (previous)
    • The services PMI has helped boost sentiment in Hong Kong (EWH), where the Hang Seng is +0.8%.
    • China ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 3, 2013, 3:27 AM | Comment!
  • Oct. 2, 2013, 9:56 PM
    | Oct. 2, 2013, 9:56 PM | Comment!
  • Oct. 2, 2013, 9:18 AM
    • The Asian Development Bank revises down its growth forecast for developing Asia to 6% in 2013 (from 6.6%) and 6.2% in 2014 (from 6.7%).
    • India suffers the largest downward revision, with the ADB now predicting economic growth of 4.7% this year versus its previous estimate of 6%. China's forecast is haircut slightly, to 7.6% from 7.4%, although the country's slowdown is described as "healthy" and "intentional," and the bank's chief economist still expects China's economy to grow at a 7% clip over the next 10 years. Chinese and Indian markets are closed for holidays.
    • Meanwhile, economists' rosy outlook for the Philippine economic machine is intact, as the ADB now sees the country's economy growing at a 7% pace in 2013 (from a previous forecast of 6%) and 6.1% in 2014 (from a previous forecast of 5.9%). The Philippine economy has expanded at a 7% pace for four-straight quarters. The PSEi rallied on the news, rising 2.7% in Manila.
    • China ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    • India ETFs - INDY, EPI, PIN, INP, INDA, INXX, SCIF, SCIN, INDL, SMIN
    | Oct. 2, 2013, 9:18 AM | Comment!
  • Sep. 30, 2013, 10:19 PM
    | Sep. 30, 2013, 10:19 PM | Comment!
  • Sep. 30, 2013, 2:01 AM
    • HSBC's final reading for September Chinese manufacturing PMI has come in at 50.2, sharply below the flash print of 51.2 but slightly above 50.1 in August.
    • New orders remained flat on month and external demand improved, HSBC says, while manufacturers continued to restock, albeit slowly.
    • There are still a lot of structural headwinds ahead, says HSBC's Frederic Neumann. "This is as good as it gets for the time being. It reflects the stimulus over the summer but don't expect too sharp an acceleration from here.
    • Nomura's Zhiwei Zhan believes that the marginal improvement in August indicates that China's economic recovery is unsustainable, and he expects growth to peak in Q3 and then resume slowing.
    • Chinese shares +0.6%. (PR)
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Sep. 30, 2013, 2:01 AM | Comment!
  • Sep. 29, 2013, 10:54 AM
    • China has officially opened the Shanghai Free Trade Zone (FTZ), which the government sees as a major step in liberalizing the country's economy and enacting other reforms.
    • The FTZ will be used as a place to test those reforms, such as with the convertibility of the yuan.
    • Twenty-five companies have received approval to establish operations in the zone, including Citigroup (C). Banks are expected to have more leeway in setting interest rates, while foreign institutions will be able to issue bonds in the domestic market. The government also intends to create an international oil futures trading platform.
    • Overseas firms will be able to manufacture video-game consoles in the FTZ and sell them in China.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Sep. 29, 2013, 10:54 AM | 3 Comments
  • Sep. 27, 2013, 4:06 AM
    | Sep. 27, 2013, 4:06 AM | Comment!
  • Sep. 25, 2013, 2:25 AM
    • In contrast to data showing that China's economy is picking up, the country's unofficial "Beige Book" shows that it is slowing down.
    • Growth in manufacturing softened, the private survey said, as opposed to government figures that indicate that factory output accelerated in July and August
    • The Beige Book also revealed "weakening gains in profits, revenues, wages, employment and prices."
    • Meanwhile, Marc Faber, the author of the "Gloom, Boom & Doom Report," has argued that China's economy is growing at annual rate of 4%, well below the government's growth target of 7.5%.
    • To back up his case, Faber pointed to trade data from the country's neighbors as a way of assessing Chinese demand.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    • Shares -0.2%
    | Sep. 25, 2013, 2:25 AM | Comment!
  • Sep. 23, 2013, 1:57 AM
    • HSBC flash manufacturing output rose to a five-month high of 51.1 in September from 50.9 in August.
    • Improvements of external and domestic demand helped boost Chinese PMI, HSBC's Qu Hongbin said. "We expect a more sustained recovery as the further filtering-through of fine-tuning measures should lift domestic demand," Qu added. "This will create more favorable conditions to push forward reforms, which should in turn boost mid- and long-term growth outlooks."
    • However, Standard Chartered's Li Wei expressed caution. "Company owners are still conservative about the economic outlook and we haven't see rapid improvement in the real economy," Li said.
    • Shares +0.8%. (Previous) (PR)
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Sep. 23, 2013, 1:57 AM | Comment!
  • Sep. 22, 2013, 10:03 PM
    | Sep. 22, 2013, 10:03 PM | Comment!
  • Sep. 18, 2013, 2:24 AM
    • New-home prices in China increased in 69 out of 70 tracked cities in August, rising 8.3% on year across the country.
    • In Guangzhou prices jumped 19%, in Shenzen 18%, and in Shanghai and Beijing 15%.
    • Despite fears about a bubble, the government seems unworried by the inflation, noting that on month, prices increased 0.8% vs 1.7% in March.
    • "The government is unlikely to take strong action nationwide to curb the property market, as that may damp economic growth,” says JPMorgan's Zhu Haibin. No new nationwide measures have been introduced since China's change of power in March.
    • Chinese shares +0.1%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Sep. 18, 2013, 2:24 AM | 3 Comments
  • Sep. 17, 2013, 2:11 AM
    • China's foreign direct investment grew 0.6% on year to $8.38B in August, although the expansion was down sharply from 24.1% in July and 20.1% in June.
    • In January-August, FDI rose 6.4% to $79.8B vs growth of 7.1% a year earlier,
    • The Conference Board's Leading Economic Index +0.7% in August vs +1.4% in July. Five of the six components contributed positively to the index in August. Growth slowed as "real-estate activity slumped markedly." (PR)
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Sep. 17, 2013, 2:11 AM | Comment!
Visit Seeking Alpha's
CNY vs. ETF Alternatives
CNY Description
The Market Vectors-Chinese Renminbi/USD ETN seeks to track the performance of the S&P Chinese Renminbi Total Return Index (SPCBCNY).
See more details on sponsor's website
Country: China
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub