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WisdomTree India Earnings ETF (EPI)

- NYSEARCA
  • Thu, Jan. 15, 2:36 AM
    | 12 Comments
  • Fri, Jan. 9, 2:26 PM
    • With domestic economies slowing, the key theme is to find countries and stocks within those countries most exposed to external demand, says the Goldman team.
    • Taiwan is the "most concentrated export story," they say, and also happens to be well-insulated from a rising rate environment in the U.S.
    • Taiwan ETFs: EWT, FTW, QTWN; and there's also the FTSE Emerging Markets ETF (NYSEARCA:VWO) - which has Taiwan Semiconductor (NYSE:TSM) as a top holding.
    • India and Turkey are two of the "prime beneficiaries" of lower oil prices, says Goldman, looking for continued improvement in their current account balances. The two countries' markets may also benefit from domestic rate cuts.
    • India ETFs: EPI, INDY, SCIF, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    • Turkey ETFs: TUR
    | 3 Comments
  • Fri, Jan. 2, 4:30 PM
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  • Dec. 29, 2014, 8:50 AM
    • Amid speculation importers have increased their dollar purchases to pay year-end bills, the rupee has fallen towards a 13-month low against the dollar. The exchange rate is currently at 63.6.
    • Nonetheless, after a rough 2013, the rupee is only down ~3% against the dollar in 2014. Slowing inflation growth - aided by easing food and oil prices, and the RBI's unwillingness to cut high interest rates for the time being - have helped. CPI growth fell to 5% in October after coming in near 7% for much of the year.
    • Indian ETFs: EPI, INDY, PIN, INDL, INP, INXX, INDA
    | 1 Comment
  • Nov. 18, 2014, 9:15 AM
    • Royal Dutch Shell (RDS.A, [[RDS.B]) wins an important victory in its long-running battle with India’s revenue authorities, who had alleged the company had underpriced shares issued by Shell’s Indian subsidiary to its parent company.
    • Shell’s case involved two years worth of tax claims in 2008 and 2009, in which India’s authorities alleged the companyhad incorrectly assessed the amount it owed relating to certain share transfers; the authorities said Shell owed ~$3B in tax on these stock transactions.
    • Shell's case comes one month after a similar ruling in favor of Vodafone and follows a string of high profile battles between revenue authorities and global businesses that have hurt India's reputation as a destination for foreign investment.
    • ETFs: EPI, INDY, PIN, INDL, INP, INXX, INDA
    | Comment!
  • Nov. 18, 2014, 1:57 AM
    • After finalizing a free-trade agreement with China yesterday, Australia is now pushing for a comprehensive trade deal with India.
    • "We want to go further and that's why the next priority for Australia is a comprehensive economic partnership agreement with India," says PM Tony Abbott. "If I may say so, this is a moment in time. This is the time to get this done."
    • Trade between Australia and India stands at around $15B a year, or just a tenth of that between Australia and China.
    • ETFs: EPI, EWA, INDY, SCIF, PIN, INDL, INP, INXX, INDA, SCIN, AUSE, SMIN, INCO, KROO, EWAS, FAUS, QAUS
    | Comment!
  • Oct. 24, 2014, 11:40 AM
    • After near 30% YTD gains in the major market averages, India's P/E premium to the world of about 20% is near a 3-year high, according to Credit Suisse.
    • "If the global readjustment stays orderly, India should be able to outperform," says the Credit Suisse team of Neelkanth Mishra and Ravi Shankar, but 56% of Nifty Fifty (INDY +0.4%) revenues are not in rupees, and the remaining 44% includes banks exposed to the globally-dependent names.
    • Sectors especially susceptible to a global growth hiccup are energy, metals, and the banks exposed to them, but consumption (INCO +0.7%), low-interest rate beneficiaries, and telecom and cement producers are better-insulated.
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | Comment!
  • Oct. 6, 2014, 2:41 PM
    • "Proactive stimulus measures and restored political stability" are cited by Credit Suisse as it upgrades Thailand to a Buy from Neutral. The team note's last week's approval of a $11B spending package (roughly 2.8% of GDP).
    • ETFs: THD
    • Indian stocks need to take a breather from a big run, says Credit Suisse, lowering the country to Neutral from Buy.
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    • Valuation is a concern for Indonesia, says Credit Suisse, cutting the country to Sell from Neutral. At 14.4x forward earnings, stocks are at a 16% premium to their 10-year historical average at the same time 3-month revisions of consensus earnings have tuned south.
    • ETFs: IDX, EIDO, IDXJ
    | 1 Comment
  • Oct. 1, 2014, 3:35 AM
    • President Barack Obama and India's new Prime Minister Narendra Modi announced the need for more economic collaboration yesterday, while addressing concerns that they have grown apart.
    • While military ties and trade in military equipment between the two countries have increased, the economic relationship has been rockier, with the U.S. frustrated over India's failure to open its economy to more foreign investment.
    • Other areas of discussion included maritime security, counter-terrorism cooperation, clean energy and climate change.
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | Comment!
  • Sep. 19, 2014, 3:25 PM
    • The Sensex edged higher this week, bringing its 6-week move to a gain of 7%, and its YTD advance to 28%. The big gain this week came amid a rare visit from China's premier and the pledging of $20B in investments in India over the next five years.
    • Credit Suisse this week says India's banks - despite maybe being the most richly valued in Asia - have upside. They trade at 3x trailing book value, but that's inline with their 10-year average. What they have going for them now is improved governance, an accelerating economy, and interest rate hikes now in the rearview mirror. The team's favorite plays (trading in the States): ICICI Bank (IBN -1.8%), HDFC Bank (HDB -0.8%).
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | Comment!
  • Sep. 18, 2014, 10:49 AM
    • India's largest trade deficit with any single country is with China, and Chinese President Xi Jinping - visiting PM Modi in New Delhi - pledged to invest $20B over five years to help narrow the difference.
    • China is India's largest trade partner, with the two doing $68.5B of business last year, and India posting a trade shortfall of $34.4B. Xi's visit follows one from Japanese PM Shinzo Abe at which he pledged more than $30B in Indian infrastructure investments.
    • The Sensex gained 1.8% overnight. EPI +3.1%, PIN +2.5%.
    • ICICI Bank (IBN +3.1%), HDFC Bank (HDB +1.3%), Tata Motors (TTM +1.6%)
    | Comment!
  • Sep. 15, 2014, 1:06 PM
    • India investors waiting for a confirmed upturn in the economy following Narendra Modi coming to power in May, will have to wait a bit longer as the most recent data is decidedly mixed.
    • While inflation has slowed to 7.8% vs. the central bank's target of 8% by the start of next year (target is 6% for 2016), industrial production grew just 0.5% Y/Y in July, down sharply from June's 3.4% and May's 5%.
    • The most recent data show exports in August of $26.96B, up 2.35% Y/Y, and imports of $37.8B up 2%.
    • The Sensex dipped 0.9% last night, but remains one of the globe's biggest gainers this year. EPI +30.6%, PIN +26% YTD.
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | Comment!
  • Sep. 5, 2014, 4:25 PM
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  • Aug. 22, 2014, 4:17 PM
    | 3 Comments
  • Aug. 19, 2014, 3:41 PM
    • India's Sensex carved out another all-time high overnight - not surprising given the optimism for reform surrounding newly-elected PM Narendra Modi - but HSBC remains cautious. The issue, says the team, are high valuations and mutual funds very overweight India, combined with the chance of higher interest rates.
    • "[We] continue to believe that there is a risk of Indian rates rising, or staying higher for longer than what the market is willing to accept ... At 16.1x forward PE, the Indian market is now trading above its long-term average valuation of 15x. This makes it the second most expensive market (after the Philippines) among the Asia ex-Japan countries.”
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | Comment!
  • Aug. 11, 2014, 7:25 AM
    • The new Indian government led by Narendra Modi is now scheduling the start of its $10B divestment plan of state-run companies for next month. It will begin with a 5% stake in the Steel Authority of India (OTC:SAUKF), the country’s biggest steel group by volume.
    • Divestment of 5% stakes in Oil and Natural Gas Corporation and Coal India will raise a much larger sum around $5B.
    • The Indian government plans to plug the country’s budget deficit with the help of such sales.
    • Investor roadshows will begin in London, New York, Hong Kong and Singapore in September with the aim of raising an estimated $300M-$330M.
    • ETFs: EPI, SCIF, INDY, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
    | 1 Comment
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EPI Description
WisdomTree India Earnings Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree India Earnings Index.
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Country: India
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