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iShares China Large-Cap ETF (FXI)

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  • Jun. 7, 2012, 8:25 AM
    China's rate cut means this weekend's data dump is going to be very bad, says Bloomberg's Michael McDonough, who adds the move implies more substantial measures to help growth are coming. Allowing banks to offer a 20% discount to the official rate suggests the country is moving closer to interest rate liberalization.
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  • Jun. 7, 2012, 7:42 AM
    More on the PBOC rate cut: It's the first reduction since the depths of 2008's financial crisis, and follows on the heels of China's banking regulator delaying for a year stricter bank capital rules. Beijing has also been seen fast-tracking previously tied-up infrastructure projects. Amidst a strong worldwide rally yesterday, shares in Shanghai fell 0.7%. The slowdown clearly has Beijing's attention.
    | 3 Comments
  • Jun. 7, 2012, 7:16 AM
    More on the China rate cut: The 1-year lending rate is now 6.31%, the 1-year deposit rate is now 3.25%. Another easing move, banks will now be allowed to offer loans at a 20% discount from the benchmark rate, whereas before they were allowed just 10%. (PBOC statement)
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  • Jun. 5, 2012, 9:08 AM
    The sharp lending slowdown in China looks to have reversed, with the big 4 banks loaning ¥253B for May after pumping out just ¥34B through the month's first 20 days. It's especially interesting combined with another story suggesting Beijing is fast-tracking infrastructure projects, whether they're really needed or not.
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  • Jun. 4, 2012, 3:04 PM
    Beijing appears to be fast-tracking infrastructure projects in an effort to support the economy, with approvals doubling Y/Y through the end of April, and government spending up 27%. Steel plants are a big favorite - the only trouble is the country is awash in overcapacity. "(It) will make things worse in the long term," says a trader of the metal.
    | 3 Comments
  • Jun. 4, 2012, 3:18 AM
    Asian markets get walloped, with weak China data compounding Friday's U.S. sell-off. Hong Kong -2.3% to 18130. China -2.7% to 2309. India -0.8% to 15835. In Tokyo, the Nikkei -1.7% to 8296, while the broader Topix fell as much as 2.2% earlier, hitting lows not seen since at least 1985.
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  • Jun. 1, 2012, 8:15 AM
    An investigation of the China's Industrial Bank by the National Audit Office finds the bank lent money for land acquisition to firms not in the real estate business, and for trade finance to companies not in the business of trading. The books are a "mess." "Basically what would happen when banks were told to lend as much as possible," writes Also Sprach Analyst.
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  • May 31, 2012, 9:18 PM
    China' official May PMI falls to 50.4 vs. 52.2 expected and from 53.3 previously. It's the biggest drop in 28 months and marks a bit of catching up for the official measure, which came in substantially higher than the HSBC read in March and April.
    | 6 Comments
  • May 31, 2012, 12:59 PM
    More on the fund manager survey: Money flowing out of Brazil is moving elsewhere in Latin America as fund managers are overweight Chile, Mexico, and Colombia. Also popular are Taiwan and India. Countries underweight: China, Thailand, Russia South Korea, and Turkey.
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  • May 31, 2012, 1:25 AM
    Chinese stocks will keep rising, with the benchmark Shanghai Composite Index poised to add 15% by year-end as slowing inflation gives the government room to loosen monetary policy and allows for bank lending to pick up, according to Beijing Gao Hua Securities Co, Goldman Sachs' China partner.
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  • May 30, 2012, 10:46 AM
    While the headlines talk about Beijing's resistance to fiscal stimulus, the government approves a proposal allowing significantly greater bond issuance by the Railway Ministry. Investment in railways has plunged this year as the system is plagued with high debt and losses amidst corruption, overbuilding, and other boondoggles.
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  • May 29, 2012, 10:40 AM
    After getting their heads beat in for the last year, China bulls are getting even more delusional, writes the Also Sprach Analyst. The greatest cognitive dissonance is from those who rail against money printing and fiscal stimulus in the west believing it's a panacea in the Middle Kingdom. Update: China has already engaged in massive money printing and stimulus.
    | 1 Comment
  • May 29, 2012, 7:08 AM
    Beijing has no intention of rolling out a 2008-style stimulus package, according to a report from the official Xinhua News Agency. "The Chinese government's intention is very clear ... the current efforts for stabilizing growth will not repeat old way of three years ago."
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  • May 24, 2012, 12:18 PM
    China's banks may fall short of their 2012 loan targets, say several officials, thanks to a drying-up in demand from their biggest customers - large state-owned firms. Bank loans dove 33% April and the May figures may be worse, with only ¥34B ($5.4B) advanced through May 20 (¥682B was loaned in April). The news seems to have hit stocks and the aussie dollar, off 40 pips in a few minutes.
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  • May 24, 2012, 8:02 AM
    The majority of steel mills in northern China have halted production, according to an analyst in the coal-trade business, putting more meat behind an earlier story about iron ore and coking coal buyers attempting to back away from orders. Not surprisingly, electricity producers are seeing their own stockpiles of coal grow due to slumping demand for juice.
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  • May 24, 2012, 7:22 AM
    More on China's HSBC PMI: Along with a decline in the headline number were falls in both input and output costs, perhaps giving greater scope for easier monetary policy (full report). Remember, this report covers smaller, privately-owned firms as opposed to the official PMI, where the companies have state support and better access to credit.
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The iShares FTSE China 25 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE China 25 Index.
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