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iShares MSCI Hong Kong ETF (EWH)

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  • Dec. 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
  • Dec. 7, 2011, 7:41 AM
    Expect another drop in China's foreign exchange reserves in December, says Li Yang, formerly an adviser to the PBOC. "(They) started to decline from the end of September ... and as of now this month, are basically falling every day." It's been suspected the cut in China's RRR last week was in response to capital exiting the country.
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  • Dec. 7, 2011, 7:15 AM
    Now factoring in an EU recession, Barclays cuts its 2012 GDP growth forecast for China to 8.1% from 8.4%, with growth slowing to 7.8% in Q1 before picking up later in the year. The group also sees inflation, currently tripping along near 6%, sharply dropping to 3.2%.
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  • Dec. 6, 2011, 5:02 PM
    "The rating agencies are getting this one really wrong," says Jim Chanos, curious as to why the U.S. and Europe face downgrades while China and its banking sector get a pass. Profitably short "anyone involved in the China real estate boom" - from Mainland banks and developers to Australia's miners - Chanos believes the crash is upon us.
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  • Dec. 3, 2011, 5:14 PM
    Back from a recent visit to the Far East, Steven Rattner says betting against China as "the world's greatest machine for economic expansion" is a bad idea: "The country pulses with energy and success, a caldron of economic ambition larded with understandable self-confidence."
    | 22 Comments
  • Dec. 3, 2011, 10:30 AM
    More from Pettis: Anybody who thinks China is going to solve global trade imbalances by ratcheting up consumption isn't paying attention. Just the opposite, calls are already on the rise to devalue the yuan. Unless the U.S. is willing to accept lower wages and enough years of high unemployment to make it competitive, the only other solution is intervention - devaluation, tariffs, quotas. "(It's) almost a matter of logic to predict a collapse in international trade."
    | 5 Comments
  • Dec. 3, 2011, 10:15 AM
    China's November non-manufacturing PMI slows sharply, to 49.7 from 57.7 previously. Two key sub-indices: new orders dives to 47.2 and new export orders sinks to 45.6. Earlier this week, 2 measures of China's manufacturing PMI both slumped below 50.
    | 3 Comments
  • Dec. 3, 2011, 10:00 AM
    A EU free Saturday morning shall we? Michael Pettis (not yet available for publication) believes Wednesday's reserve ratio requirement decrease in China is more about the PBOC trying to offset what he believes are continued net outflows of speculative capital from the country. The yuan is no longer a one way bet, and in fact has been trading down sharply each day before the PBOC steps in to fix it.
    | 9 Comments
  • Dec. 1, 2011, 11:07 AM
    An FT video report from Chinese manufacturing hub Wenzhou illustrates the limits of the country's low value added export model. Razor-thin margins combined with labor shortages, vanishing credit availability, and an overseas slowdown make for a difficult situation. "If a big chain cancels an order, somewhere in China a factory shuts down," said some bright guy not long ago.
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  • Nov. 30, 2011, 3:45 PM
    Capital Economics notes the significance of the move by China, saying the PBOC has already been stealthily easing, but today's action means Beijing wants the world to know about it. "Further RRR cuts will follow ... bank lending will pick up." As for official interest rates, they may or may not come down, but are not a significant policy tool in China.
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  • Nov. 30, 2011, 7:19 AM
    Showing the power of easier monetary policy to (at least temporarily) move shares, the China 25 ETF (FXI +2.1%) is sharply higher premarket despite a 3.3% swoon in Chinese shares overnight (easing announcement was made after Shanghai's close).
    | 1 Comment
  • Nov. 30, 2011, 7:08 AM
    Given the horrid investment performance of the BRICs, SocGen's professional bear Albert Edwards suggests the acronym ought to stand for Bloody Ridiculous Investment Concept. YTD: Brazil EWZ -28%, Russia -23%, India INDY -32%, China FXI -20%. Could China's move to easing turn things around?
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  • Nov. 28, 2011, 9:17 AM
    Not news that sell-side firms and "sell" ratings are unfamiliar with each other, it's doubly so for China. Forensic Asia finds brokerages offering 19.2 "buy' recommendations on Chinese shares for every 1 "sell," compared to a 10.5:1 ratio for U.S. stocks and 7.3:1 for Asia ex-China."At sell-side firms there is overwhelming pressure to believe in the 'China cannot fail' story."
    | 1 Comment
  • Nov. 25, 2011, 7:03 AM
    Holding more clues about the state of the world than you know, Malaysian Palm Oil prices continue their fall as the Indian and Chinese economies (the 2 greatest consumers) lose momentum. The latest news has China cancelling a 300K ton order and delaying receipt of another 400K tons. Prices are off about 20% YTD.
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  • Nov. 24, 2011, 5:46 AM
    Chinese factory output growth will probably slow slightly to 12-13% next year because of softening global demand, the industry ministry says. That would still ensure GDP growth of 8-9%, the level that China needs to create enough jobs to stem social unrest and avoid a "hard landing."
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  • Nov. 23, 2011, 12:21 PM
    Jim Chanos comes back from his trip to Hong Kong and Australia even more bearish. "The Chinese banking system is build on quicksand," he says, pointing out the government's vaunted $3T in FX reserves are not cash in the bank, but assets against which there are $3T in liabilities. His concerns spread to a complacent Oz, which "has hitched its wagon to the tail of the tiger."
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EWH Description
The iShares MSCI Hong Kong Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Hong Kong market, as measured by the MSCI Hong Kong Index.
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Country: Hong Kong
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