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Wed, Oct. 15, 2:28 PM
- On a day when the Nasdaq is down 1.8% and the S&P 2.2%, many Chinese Internet stocks are rallying. China's lowest CPI print in five years - it helped the Shanghai exchange rise 0.7% overnight - could be playing a role.
- Baidu (BIDU +1.1%), Sohu (SOHU +2.8%), Youku (YOKU +4.9%), Vipshop (VIPS +3%), and Weibo (WB +2.9%) are among the standouts. Others: CMGE +6.1%. MOBI +4.1%. NTES +3.5%. DANG +2.3%. SFUN +1.7%. CCIH +1.7%. BITA +1.5%.
- ETFs: KWEB, CQQQ, QQQC
Thu, Jun. 26, 11:00 AM
- The Shanghai Composite rose 0.7% overnight, with the ChiNext Index of small company stocks popping 2% after the first IPOs to hit the mainland in four months jumped an average 44%. Trading volume in Shanghai was 9.2% above the 30-day average.
- China's securities watchdog recently lifted a ban on IPOs and it expects to allow about 100 between June and year-end.
- The Hang Seng (EWH) climbed 1.5%.
- China ETFs: FXI, EWH, PGJ, GXC, FXP, KWEB, YINN, ASHR, YANG, CQQQ, MCHI, QQQC, PEK, XPP, YAO, YXI, CHXF, EWHS, FCHI, CN, FCA, CHNA, FHK, KBA
- China small-cap ETFs: HAO, ECNS, EWHS, ASHS
Thu, Jun. 19, 10:44 AM
- Worries over a rush of IPOs make for a convenient excuse for a 1.6% decline in the Shanghai Composite overnight. Regulators have given the green light to new offerings after a four-month halt and at least four companies are coming public this week. "The secondary market is bleeding," says one strategist. "Investors want to speculate on new stocks."
- China's securities regulator says about 100 companies will list on the mainland by year-end.
- FXI -0.8%
- ETFs: FXI, EWH, PGJ, GXC, FXP, KWEB, YINN, HAO, ASHR, CHIQ, YANG, TAO, CHIX, CQQQ, MCHI, QQQC, PEK, XPP, YAO, YXI, CHXX, CHXF, CHII, ECNS, CHIE, CHIM, EWHS, FCHI, CN, FCA, KFYP, CHNA, FHK, KBA, ASHS
Mon, Apr. 28, 4:51 AM
- Asian shares mostly fall as the escalating Ukraine crisis weighs on sentiment.
- In China, the mood has also been affected by the securities regulator announcing a resumption of IPOs after a three-month halt and President Xi Jinping dampening hopes for further stimulus by saying that fiscal and monetary policies would essentially remain as they are. The regulator will hold meetings on Wednesday to review the applications of four companies.
- Japan -1%, Hong Kong -0.4%, China -1.6%, India -025%.
- China ETFs: FXI, PGJ, GXC, FXP, YINN, KWEB, CYB, HAO, CNY, ASHR, CHIQ, DSUM, TAO, YANG, CHIX, CQQQ, MCHI, QQQC, PEK, XPP, YAO, CHXX, YXI, FXCH, CHXF, CHII, ECNS, CHIE, CHIM, FCA, KFYP, TCHI, CHLC, CHNA, KBA
Tue, Apr. 15, 1:49 PM
- While broader equity markets are only seeing modest declines, tech stocks aren't so lucky. The Nasdaq-100 (QQQ -0.8%) had its lowest print since October this morning before recovering slightly.
- Chinese tech stocks (KWEB -4.3%), including 2013 solar high-flyers (TAN -4.2%), are especially hard-hit following a Shanghai selloff triggered by PBOC withdrawals. Other Internet (PNQI -2.3%) and social media (SOCL -2%) stocks aren't faring much better.
- Will earnings season come to the rescue? Intel and Yahoo report after the bell today, and Google and IBM after the bell tomorrow.
- Tech ETFs: XLK, VGT, FDN, ROBO, SOXL, SKYY, TECL, USD, SMH, IPK, IYW, ROM, TDIV, SOXS, SOXX, KWT, TECS, XSD, IXN, IGV, FTEC, RYT, IGM, PXN, QTEC, PSCT, FXL, IGN, PSI, SSG, MTK, REW, PXQ, XSW, FONE, PSJ, AAIT, PTF, CQQQ, QQQC
- Update: Tech stocks rallied in the final hours of trading. The Nasdaq closed up 0.3%.
Thu, Mar. 27, 4:53 AM
- Asian shares have traded mixed in a choppy session in which the Nikkei recovered to close up 1% after falling earlier in the day. Market players pointed to reinvestment by a public pension fund and short-covering as reasons for the reversal.
- The Shanghai Composite fell 0.8% and the Hang Seng 0.2% as tech stocks took a beating following a bad debut on Wall Street for "Candy Crush" developer King Digital.
- Elsewhere in Asia, India -0.7%.
- ETFs: DXJ, EWJ, DFJ, NKY, DBJP, EZJ, EWV, SCJ, JPNL, DXJS, JSC, ITF, JPP, JPNS, HEWJ, FJP, EWH, EWHS, FCHI, FHK, FXI, PGJ, GXC, FXP, YINN, KWEB, YANG, CQQQ, MCHI, QQQC, XPP, YAO, YXI, CHXF, FCA, TCHI
Mon, Mar. 24, 2:24 AM
- HSBC Chinese flash manufacturing PMI has indicated contraction for a fifth consecutive month, slipping to 48.1 in March from 48.5 in February and missing consensus of 48.7.
- New orders, employment and output shrank, although new export orders grew for the first time in four months.
- The reading adds to other data which indicate that China's economy is slowing.
- "Weakness is broadly based with domestic demand softening further," says HSBC. "We expect Beijing to launch a series of policy measures to stabilize growth."
- Hopes of such stimulus have helped push the Shanghai Composite up 1%, while the Hang Seng is +1.7%. (PR)
- ETFs: FXI, PGJ, GXC, FXP, YINN, CYB, KWEB, HAO, CNY, ASHR, CHIQ, DSUM, CHIX, TAO, YANG, CQQQ, MCHI, PEK, QQQC, XPP, YAO, CHXX, YXI, FXCH, CHII, CHXF, ECNS, CHIM, CHIE, KFYP, FCA, TCHI, CHLC, CHNA, KBA
Fri, Mar. 21, 4:30 AM
- Chinese and Hong Kong stocks lead an Asian rally following sharp Fed-inspired losses in the region yesterday.
- The Shanghai Composite Index jumps 2.7% amid speculation that the Chinese government will ease the ability of banks and property developers to raise money as part of an attempt to boost the stuttering economy, further evidence for which was provided in China's "Beige Book." One financing idea being bandied about is letting lenders sell preferred shares.
- The yuan is steady following further sharp losses for the renminbi this week, with the USD-CNY -0.1% at 6.229 yuan.
- Japan closed. Hong Kong +1.3%, India +0.1%.
- ETFs: FXI, PGJ, GXC, FXP, YINN, CYB, KWEB, HAO, CNY, ASHR, CHIQ, DSUM, TAO, CHIX, YANG, CQQQ, MCHI, PEK, QQQC, XPP, YAO, CHXX, YXI, CHII, FXCH, CHXF, ECNS, CHIM, CHIE, KFYP, FCA, TCHI, CHLC, CHNA, KBA
Tue, Feb. 25, 4:19 AM
- The Chinese yuan has fallen for the sixth day in a row and hit its lowest level in a year, with currency analyst Kenix Lai believing that the People's Bank of China has been engineering the fall, possibly to "change the perception of the one-way bet on yuan gains."
- Lai says the PBOC may also be "introducing two-way volatility as it prepares the renminbi for a wider trading band." The PBOC said last week that it plans to expand the range in an "orderly" manner.
- The yuan's direction has generally been upwards, but since touching a record high against the dollar in mid-January, the currency has dropped over 1%.
- Today, the PBOC set the renminbi's daily reference rate at 6.1184 to the dollar. The yuan is allowed to trade 1% either side of the rate.
- The Shanghai Composite closes -2%.
- ETFs: FXI, PGJ, GXC, FXP, YINN, HAO, KWEB, ASHR, CHIQ, TAO, CHIX, DSUM, YANG, CQQQ, MCHI, PEK, QQQC, XPP, YAO, CHXX, CHII, CHXF, YXI, ECNS, CHIE, CHIM, FCA, KFYP, CHLC, TCHI, CHNA, CEW, JEM
Fri, Jan. 24, 4:23 AM
- Asian shares have mostly fallen as investors have seemed to grow more fearful about the significance of poor Chinese manufacturing PMI data yesterday.
- Investors have sought safe havens such as the yen - the USD-JPY is -0.3% at ¥103 - helping to send the Nikkei -1.9%.
- "A correction could occur," says investment strategist Shane Oliver. "We have to expect more volatility. Shares are no longer dirt cheap, meaning the easy gains are behind us."
- The once place where the PMI data didn't seem to to have an effect today was China, whose Shanghai Composite rose 0.6%. Stocks were partly boosted by money market rates falling again following a $42B+ injection of cash this week from the central bank ahead of the Lunar New Year. The seven-day repo rate dropped 77 bps to 4.61%.
- "Bad news has been digested and liquidity has eased," says analyst Du Liang.
- China ETFs: FXI, PGJ, GXC, FXP, CYB, YINN, HAO, CNY, TAO, CHIQ, ASHR, CHIX, YANG, MCHI, DSUM, PEK, KWEB, CQQQ, QQQC, XPP, YAO, CHXX, FXCH, CHII, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
- Japan ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
Thu, Jan. 23, 4:46 AM
- Asian equities are mixed after preliminary data from HSBC showed that Chinese manufacturing activity contracted for the first time in six months.
- "The weak flash PMI will inevitably inflame China slowdown worries, but this is only one data point," says strategist Linus Yip. "If more data start to also show a deeper slowdown, Beijing may be forced to stimulate in order to maintain a stable basis for growth that they need to execute reforms."
- However, it was the Hang Seng that seemed to take the brunt of the losses, falling 1.4%, while Australia's S&P/ASX 200 dropped 1.1%.
- The Shanghai composite closed -0.5%, with the negative mood perhaps offset by the People's Bank of China conducting 120B yuan ($19.8B) of 21-day reverse-repurchase agreements as it seeks to further defend against a credit crunch.
- Elsewhere in Asia, Japan's Nikkei closed -0.8% and India's Sensex is +0.15%.
- ETFs: FXI, EWA, EWH, PGJ, GXC, FXP, HAO, YINN, TAO, CHIQ, ASHR, CHIX, YANG, MCHI, PEK, KWEB, CQQQ, QQQC, XPP, AUSE, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, EWHS, FCHI, KFYP, FCA, TCHI, CHNA, FHK, FAUS
Wed, Jan. 22, 5:03 AM
- Chinese shares led Asian shares higher, with the Shanghai Composite rising 2.2% as stocks built on yesterday's gains following the injection of liquidity into money markets by the People's Bank of China in order to avert a cash crunch. The PBOC is expected to add more funds in operations tomorrow.
- "The cyclicals and the blue chips are leading the rebound today, which usually points at policy relief," says analyst Cao Xuefeng. "It's more a relief rally at this point."
- In Japan, the Nikkei rose 0.2% after the BOJ again maintained its ultra-loose monetary policy as is.
- Elsehwere, Hang Seng +0.05%, India +0.4%.
- ETFs: FXI, PGJ, GXC, FXP, YINN, HAO, CYB, CNY, TAO, CHIQ, CHIX, ASHR, YANG, MCHI, PEK, KWEB, DSUM, CQQQ, QQQC, XPP, YAO, CHXX, CHII, FXCH, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Tue, Jan. 21, 3:36 AM
- Having surged 153 bps yesterday, China's seven-day repurchase rate fell 88 bps to 5.44% today after the People's Bank of China injected over 255B yuan ($42B) into the financial system and expanded a loan facility in order to meet demand for cash ahead of the Lunar New Year.
- The PBOC's action helped the Shanghai Composite rise 0.9% and the Hang Seng 0.5%.
- Meanwhile, the shares of eight small companies jumped on their trading debuts today, prompting the Shenzhen Stock Exchange to warn about "blindly" speculating in IPOs. The stock moves highlight the demand for new listings following the end of a year-long moratorium on IPOs.
- ETFs: FXI, PGJ, GXC, FXP, YINN, HAO, CYB, CNY, TAO, CHIQ, CHIX, ASHR, YANG, MCHI, PEK, CQQQ, KWEB, DSUM, QQQC, XPP, YAO, CHXX, CHII, FXCH, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Fri, Jan. 17, 4:19 AM
- Asian shares are mainly lower as disappointing earnings results out the U.S. hurt sentiment.
- China's Shanghai Composite closes -0.9% for its third weekly loss. Investors stayed cautious ahead of GDP and other economic next week, while a surge of 43% in the shares of debutant Neway Valve served to highlight concerns that an upcoming wave of offerings will divert money from other stocks. The industrial valve manufacturer is the first company to hold an IPO following the end of a year-long moratorium on new listings.
- Elsewhere in Asia, Japan's Nikkei -0.1%, Hong Kong's Hang Seng +0.6% and India's Sensex is -1%.
- ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, CYB, CNY, TAO, CHIQ, CHIX, ASHR, YANG, MCHI, PEK, CQQQ, KWEB, QQQC, XPP, DSUM, YAO, CHXX, FXCH, CHII, CHXF, ECNS, YXI, CHIE, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Tue, Jan. 14, 5:38 AM
- Asian and European stocks mostly fall following Wall Street's sharp losses yesterday, while U.S. stock futures are flat-to-higher.
- Earnings warnings in the U.S. are among the factors weighing on sentiment.
- However, Chinese equities bucked the tape in Asia, rising 0.9% following four days of losses and after the Shanghai Composite traded at 10.1 times reported earnings yesterday, the lowest since at least 2007. The re-opening of the IPO market has been hurting the mood lately..
- The Nikkei plummeted 3.2% during the first session of the week amid a strengthening of the yen over the long weekend. Elsewhere in Asia, Hong Kong -0.4%, India -0.5%.
- EU Stoxx 50 -0.45%, London -0.4%, Paris -0.5%, Frankfurt -0.6%, Madrid -0.3%, Milan -0.35%.
- U.S. stock futures: Dow flat. S&P +0.1%. Nasdaq flat.
- China ETFs: FXI, GXC, PGJ, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, ASHR, YANG, MCHI, PEK, CQQQ, QQQC, XPP, KWEB, YAO, CHXX, FXCH, CHII, CHXF, ECNS, YXI, CHIE, CHIM, KFYP, FCA, TCHI, CHNA
Mon, Jan. 6, 2:45 AM
- Chinese HSBC services PMI dropped to the lowest level since August 2011, falling to 50.9 in December from 52.5 in November.
- The decline mirrors a drop in the official print to 54.6 from 56, as well a deceleration in manufacturing growth, and suggests that the slowdown in the economy is broad-based.
- The sub-index for new business orders sank to a six-month low of 51.8, although labor conditions improved.
- HSBC put a positive spin on the data, saying it expects that the expansion in manufacturing and that economic reform will support the services sector.
- Still, the reading helped drag down Asian markets amid fears that China's slowdown will continue in Q1.
- The Shanghai Composite -1.8%, Hang Seng -0.4%, Japan -2.35%, India -0.3%. (PR)
- ETFs: FXI, PGJ, GXC, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, ASHR, MCHI, YANG, PEK, CQQQ, DSUM, XPP, QQQC, YAO, KWEB, CHXX, CHII, FXCH, ECNS, CHXF, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
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