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iShares China Large-Cap ETF (FXI)

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  • Mar. 13, 2012, 7:15 AM
    Nomura revises its 2012 GDP growth forecast for China to 8.2% from 7.9%, saying the economic prints for the year's first 2 months have been weak, but not as bad as the bank expected, and lower inflation leaves room for easier monetary policy. The revision is particularly noteworthy given Nomura's earlier prediction of a 33% chance of a hard landing.
    | 1 Comment
  • Mar. 12, 2012, 7:56 AM
    The yuan falls by the most in nearly 2 months as PBOC Governor Zhou says the exchange rate is linked to the balance of payments, and, well, it's deteriorating. No longer a one-way bet higher, the yuan has declined 0.5% this year, after slow, steady rises for the last 3. (also)
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  • Mar. 12, 2012, 7:09 AM
    China's trade deficit for the year's first two months was $4.1B, less scary than the (holiday-influenced) $31.5B for February reported over the weekend, but still the worst performance since 2004. Other data suggest continued slowing export growth. "The world's factory is running short of orders," writes Tom Orlik.
    | 1 Comment
  • Mar. 12, 2012, 6:22 AM
    More from the PBOC's Zhou: The yuan is near fair value, and it's too early to say whether the February trade gap is the start of a trend. (see also)
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  • Mar. 12, 2012, 4:46 AM
    PBOC Governor Zhou Xiaochuan says the bank has room to ease lending curbs and adjust the reserve ratio to support economic growth, but that any changes would be gradual. Zhou's comments come after weekend data showed the weakest loan growth since 2005.
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  • Mar. 10, 2012, 7:17 AM
    China posts a $31.5B trade deficit in February, surging past estimates of $4.9B (and whispers of $28B) as imports jumped 39.6% Y/Y vs. exports at 18.4%. For about the 10th week running, analysts caution against reading too much into the data thanks to the Lunar holiday. Whatever. China and Japan are posting trade deficits - the world is changing.
    | 20 Comments
  • Mar. 9, 2012, 12:22 AM
    Chinese February inflation 3.2% vs. consensus of 3.4%, 4.5% previously. It's the lowest read in nearly 2 years, and suggests Beijing has room to further ease monetary policy. Shanghai +0.4%, lagging the rest of the worldwide rally.
    | 1 Comment
  • Mar. 8, 2012, 12:25 PM
    "Vastly overblown," is how Stephen Roach (formerly MS, now a Yale prof) describes fears of a hard landing in China. A big fan of China's central planners, Roach says they've done yeoman's work controlling inflation and the next task is to wean the country off of a reliance on fixed-income investment at the expense of consumption.
    | 3 Comments
  • Mar. 6, 2012, 11:16 AM
    Almost $9 out of every $10 put into equity ETFs worldwide in 2012 has gone into emerging market funds, according to BlackRock. It's the best performance ever for the sector in the initial 2 months of a year as investors chase strong performance in places like Egypt (EGPT), Brazil (EWZ), and China (FXI). Two broader EM funds: VWO +12.2%, EEM +12% YTD.
    | 1 Comment
  • Mar. 6, 2012, 8:02 AM
    China Vanke - the nation's largest property developer - reports a sales decline of 39.84% in February, though the numbers may be distorted by the Spring Festival. Nevertheless, Vanke shares were off 3.4% in Shanghai last night, leading the composite to its worst performance in weeks, -1.4%.
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  • Mar. 5, 2012, 10:35 AM
    Chinese auto sales through February fall 3% Y/Y, the worst figure since the 8.9% drop in 2005. "There are no incentives for consumers to buy," says Cui Dongshu, "They worry more about their income prospects ... more people are delaying their purchase."
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  • Mar. 5, 2012, 8:03 AM
    After 7 straight weeks of stock market gains in Shanghai, the team at Credit Suisse decides the risk of a hard landing in China is gone. The analysts still expect growth to remain slow as inflation - on the way down right now - is expected to pick up later in the year, taking significant monetary ease off the table.
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  • Mar. 5, 2012, 7:39 AM
    "The government has become a monopoly company that invests in everything," says Zong Qinghou, China's 2nd wealthiest man ahead of the annual National People's Party meetings. His comments reflect the growing concern that - far from reform or rebalancing - "state capitalism" is dominating the economy as never before.
    | 3 Comments
  • Mar. 5, 2012, 2:45 AM
    China lowers its GDP target to 7.5% from the 8% goal that's been in place since 2005. Speaking at the annual meeting of the National People’s Congress, Premier Wen Jiabao adds the nation needs to shift to a more sustainable and efficient economic model, indicating China will cut its reliance on exports and capital spending in favor of increased consumption.
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  • Mar. 4, 2012, 10:47 AM
    China's February services PMI slides to 48.4 from 52.9 previously, reports the CFLP, attributing the fall to the business lull following January's Spring Festival holidays. The sub-index of new orders fell to 46.1 from 48.5.
    | 25 Comments
  • Mar. 2, 2012, 12:47 PM
    "The iron rice bowl has become a pot of gold," says James McGregor of the dominance of state-owned enterprises (SOE) in China causing an inefficient allocation of resources. The success of China, he argues, has much to do with a population that is "good at getting around bad policies ... but (now) it's getting harder to get around bad policy."
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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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