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WisdomTree Chinese Yuan ETF (CYB)

- NYSEARCA
  • Sep. 11, 2013, 3:45 AM
    • China's aggregate financing grew for the first time in four months in August, rising to 1.57T yuan ($257B) from a 21-month low of 808.8B yuan in July and topping consensus of 950B yuan.
    • Growth in bankers' acceptance bills and entrusted loans indicate a pick-up in shadow banking, which has caused so much nervousness over recent months.
    • While the increase in financing may be helping the economy, says SocGen economist Yao Wei, it only "adds to the downside risk," as Chinese corporations and local governments become ever more indebted.
    • 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
    | 3 Comments
  • Sep. 10, 2013, 2:02 AM
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  • Sep. 8, 2013, 9:46 PM
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  • Sep. 8, 2013, 3:17 AM
    • China's trade surplus jumped 61% in August to $28.6B, topping consensus of $20B.
    • Exports +7.2% on year vs 5.1% in July and consensus of 6%.
    • Imports +7% vs 10.9% and 11.3%.
    • Exports to ASEAN nations +30.8%, to U.S. +6.1%, EU +2.5%.
    • The strong export figures add to positive PMI and other data that indicate that China's economy is stabilizing after slowing in nine out of the past 10 quarters.
    • "China's August trade sustained the upward trend seen since July, in line with accelerating growth momentum and improving market sentiment, pointing to an upside bias in Q3 GDP growth," write ANZ economists Liu Li-Gang and Zhou Hao.
    • However, the weaker-than-expected imports could prompt concern about domestic demand.
    • Other data due this week includes industrial output, inflation, money supply and investment.
    • 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
    | 1 Comment
  • Sep. 3, 2013, 10:45 PM
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  • Sep. 2, 2013, 9:42 PM
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  • Sep. 2, 2013, 3:19 AM
    • China's HSBC PMI rises to 50.1 in August (as in flash estimate) from 47.7 in July.
    • Output and new orders expand; backlogs of work increase at fastest pace in two years; input costs and output charges increase for the first time in six months.
    • The reading "implies that growth in China's manufacturing sector has started to stabilize on the back of a modest rebound of new orders and output," HSBC says. "This was mainly driven by the initial filtering through of recent stimulus measures and companies' restocking activities. We expect some upside surprises to China's growth in the coming months."
    • China's official manufacturing PMI, which focuses on larger state-owned companies, rises to 51 from 50.3. (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
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  • Aug. 27, 2013, 2:03 AM
    • Net income at Chinese industrial companies rose 12% on year in July, up from 6.3% in June, providing further evidence that the economy is stabilizing following a two-quarter slowdown in growth and a credit squeeze in June.
    • Earnings from power, telecommunications and auto manufacturing contributed to the acceleration in overall profit, although income at coal miners fell.
    • The data adds to better-than-expected industrial production and PMI data, as well as a rebound in trade.
    • Meanwhile, Yi Gang, a deputy governor of the People's Bank of China, believes that the Fed's tapering may only have a "limited" impact on his country compared with other emerging nations.
    • Shares flat.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC, CHII. Currency: CNY, CYB, FXCH.
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  • Aug. 26, 2013, 4:43 AM
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  • Aug. 26, 2013, 3:04 AM
    • China's economy is on course to meet the government's annual growth aim of 7.5%, the state statistics bureau has said, with "signs of growth stabilization" becoming "more obvious."
    • In a press briefing that may have been called to try to allay global fears about China's slowdown, the bureau also said that local government debt - a topic of increasing concern - remains under control.
    • The comments follow the release of several pieces of positive data for July, including PMI and trade figures.
    • ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, DSUM, CHLC, HAO, ECNS, CNY, CYB, FXCH
    | 1 Comment
  • Aug. 22, 2013, 2:09 AM
    • HSBC China flash manufacturing PMI has surprisingly shown growth for the first time in four months in August, increasing to 50.1 from 47.7 in July and easily topping consensus of 48.3.
    • Manufacturing output index 50.6 vs 48 in July.
    • Domestic demand helped boost manufacturing activity following measures to support growth, but export orders fell at a faster pace
    • "China's manufacturing growth has started to stabilize on the back of modest improvements of new business and output," says HSBC. "We expect further filtering-through, which is likely to deliver some upside surprises to China's growth in the coming months."
    • 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 (PR)
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  • Jul. 5, 2013, 4:44 AM
    China is establishing an experimental free-trade zone in Shanghai to test some of the government's financial reforms, including increasing the convertibility of the yuan and interest-rate liberalization, although it's not clear how the zone will operate. The proposal is a further step in China's plan to loosen its capital controls and facilitate the internationalization of the renminbi. The plan, says HSBC economist Qu Hongbin, is "the pilot's eventual national roll-out."
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  • Jul. 4, 2013, 7:40 AM
    China could "announce full capital account convertibility of the renminbi" (CYB) in a few years, Guan Tao, an architect of China's exchange rate reform, said at a conference that took place earlier this year but has only just been reported. China hopes that the liberalization of the yuan will enable it to rival the dollar as a global currency. However, the IMF's Markus Rodlauer warned that while China's aims are "well placed," going too fast "risks accidents and crisis." China would be "served well by continuing its careful approach."
    | 1 Comment
  • Jun. 28, 2013, 12:19 PM
    "The China growth story is starting to unravel," says Deutsche Bank and this - not the Fed - is behind market skittishness. The PBOC's seeming desire to engineer a squeeze in the banking system is compounding the pressure. While a full-blown financial crisis may be unlikely, there remains a strong chance of a yuan (CNY, CYB) devaluation, says the team. Continuing strength in the greenback should suck even more liquidity out of emerging markets (EEM, VWO, DEM, EMB).
    | 1 Comment
  • Jun. 24, 2013, 3:48 AM
    China took another important step towards internationalizing the renminbi over the weekend after the People's Bank of China and the Bank of England signed a three-year currency swap arrangement worth up to 200B yuan ($33B). The agreement adds to 20 that China has with other countries and regions, but this is the first one with a major industrialized nation. The deal will allow the BOE to draw on the line if there is an unexpected shortage of renminbi in the U.K. (PR)
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  • May 23, 2013, 3:17 AM
    China PMI shrinks for the first time in seven months, dropping to 49.6 from 50.4 in April, missing expectations. HSBC, who collect the data, didn't mince words in an appeal to Beijing: "The cooling manufacturing activities in May reflected slower domestic demand and ongoing external headwinds. A sequential slowdown is likely in the middle of Q2, casting downside risk to China's fragile growth recovery. Moreover, the further signs of labor market slackness call for more policy support. Beijing still has fiscal ammunition to do so." ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF; BONDS: RMB, DSUM, CHLC, CNY, CYB, FXCH
    | 1 Comment
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CYB Description
WisdomTree Chinese Yuan Fund seeks to achieve total returns reflective of both money market rates in China available to foreign investors and changes in value of the Chinese Yuan relative to the U.S. dollar.
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Country: China
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