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iShares China Large-Cap ETF (FXI)

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  • Mar. 24, 2012, 4:51 PM
    Barron's Alan Abelson says China's showing unmistakable signs of economic fatigue. He joins JPMorgan's chief Asian strategist, Adrian Mowat, who is very concerned about the Chinese property market, and finds no evidence of policy moves that might reaccelerate the economy.
    | 11 Comments
  • Mar. 23, 2012, 12:18 PM
    The PBOC is creating credit ratings for local governments as they prepare to enter the previously prohibited municipal bond market. Curious is the hope bond issuance - as opposed to bank loans - will improve the debt situation. Call if a bond or call it a loan - either way it ends up as a liability for the local government and an asset on banks' books.
    | Comment!
  • Mar. 23, 2012, 11:59 AM
    The risks to China's banks from local government loans are greater than thought as the country's banking regulator finds about 20% of loans have been misclassified as fully covered by cash flows. Properly accounting for them will mean lenders have to set aside greater reserves as well as demand more collateral from strapped governments.
    | 1 Comment
  • Mar. 22, 2012, 11:12 AM
    While China's weak PMI number may be the spark that started today's sell off, shares in Shanghai and Hong Kong, ended last night flat to positive. Both markets have already suffered declines of about 5% in the last month on top of more significant drops in 2011. Perhaps the washout in shares has already occurred, says Doug Kass.
    | 5 Comments
  • Mar. 22, 2012, 7:15 AM
    More on the weak China HSBC PMI: HSBC economist Hongbin Qu - who typically tries to spin a positive message from these reports - sounds gloomy. "Worryingly, employment recorded a new low from March 2009 ... external demand ... decline(d) at a slower pace, implying no improvements in the (domestic) demand outlook." (full report)
    | 1 Comment
  • Mar. 21, 2012, 10:31 PM
    HSBC's flash estimate of China's PMI: 48.1, vs. last month's 49.7 - a regression from already contractionary territory. The Aussie dollar sinks, now -0.26% against the dollar.
    | 2 Comments
  • Mar. 20, 2012, 11:18 AM
    "There's a changed psychology among buyers," says Patrick Chovanec, waving off the myth that Beijing can flip a switch and get the country's property market booming again. He's also skeptical a building boom from affordable housing will save the day, saying the money to finance this isn't readily available.
    | 1 Comment
  • Mar. 20, 2012, 11:10 AM
    The recent ouster of Chongqing Communist Party secretary Bo Xilai signals an upcoming decline in Chinese "state capitalism," proclaims Zhang Xin, CEO of Beijing property developer Soho China (SOHOF.PK). Remarks from premier Wen Jiabao about greater economic opening are also cited as a sign of a policy shift. But Wen has also talked about the need to limit growth. (previously)
    | Comment!
  • Mar. 20, 2012, 7:17 AM
    Chinese vehicle sales are likely to miss their already modest target of 8% growth this year, according to a senior official at the China Association of Automobile Manufacturers who believes even 5% could be difficult to hit because of the "difficult" economic situation.
    | Comment!
  • Mar. 19, 2012, 9:30 AM
    In addition to falling Chinese property prices is a sharp slowdown in sales, SocGen's team noting a 20% decline Y/Y for January and February combined. It's the worst result since 2008 and the worst since the series started in 2006.
    | 1 Comment
  • Mar. 15, 2012, 11:38 AM
    More on Adrian Mowat's China hard-landing call: While Beijing has plenty of fiscal and monetary flexibility to combat a slowdown, easier policy might just lead to more capital formation which China already has too much of. It's nothing to be scared of, he says, as it's already being reflected in equity prices, which are getting very cheap. (video)
    | 1 Comment
  • Mar. 15, 2012, 3:51 AM
    China is already in a hard landing, says JPMorgan analyst Adrian Mowat. "If you look at the Chinese data, you should stop debating about a hard landing... Car sales are down, cement production is down, steel production is down, construction stocks are down. It’s not a debate anymore, it’s a fact."
    | 4 Comments
  • Mar. 14, 2012, 7:55 PM
    The sleeper story today is China, says Art Cashin. The Shanghai Stock Market was clobbered overnight on comments by Premier Wen, raising questions about the need for reform to avoid slipping back into the "Cultural Revolution." The issue gets its legs from the fact that the leader of the communist party right now is going around the country touting a revival of Mao, and at present, no market in the world has yet priced in a potential power struggle in China. (video)
    | 6 Comments
  • Mar. 14, 2012, 9:10 AM
    More on last night's remarks from China Premier Wen: He warns of "chaos" in the market if property curbs are relaxed. The chairman of property developer Soho China (SOHOF.PK) calls the remarks "bad news" for players with high levels of debt. In addition to a steep drop in Shanghai, Hong Kong shares give up big gains to close red. EWH -0.6% premarket.
    | 1 Comment
  • Mar. 14, 2012, 3:03 AM
    China will expand 8.3% this year, forecasts S&P, exceeding China's own estimate of 7.5% growth. Potential negative developments in the eurozone and Middle East provide downside risk, but China should benefit from "local governments' penchant for growth and policymakers' increasing support to small and midsize enterprises."
    | 1 Comment
  • Mar. 13, 2012, 7:21 AM
    Loan demand continues to be weak in China with the big 4 banks reportedly making less than ¥20B in loans in March's 1st 2 weeks due to "weak demand from large corporates." Slowing money supply growth is likely to slow even further unless "the government forces someone to borrow money."
    | 2 Comments
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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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