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PowerShares Golden Dragon China Portfolio ETF (PGJ)

  • Jan. 10, 2012, 2:20 AM
    China's import growth fell to a two-year low in December, rising 11.8% Y/Y. Exports rose 13.4% in December, causing the trade surplus to increase to $16.5B in the month.
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  • Jan. 10, 2012, 2:13 AM
    China leads Asian markets up, getting a boost after a top official at China's stock market regulator said the agency will press forward on deeper institutional reforms. Japan +0.4%. Hong Kong +0.8%. China +2.7%. India +1.6%.
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  • Jan. 9, 2012, 2:19 AM
    Over the weekend, Chinese Premier Wen Jiabao called for efforts to boost confidence in the country's stock market, increased oversight of its financial markets, and rule changes to allow private-capital investment in banks and insurers. If put in place, the policies could be a positive short- and long-term catalyst for China.
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  • Jan. 6, 2012, 1:42 PM
    Follow the Shanghai Composite as it's been an excellent leading indicator for U.S. stocks, says Jeff Gundlach in his 2012 outlook. Turning to the bond market, he's bullish on the greenback, putting most of his funds in dollar-denominated assets, but also nibbling at emerging market credit (EMB). As for high yield (HYG), he doesn't believe it's yet cheap enough.
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  • Jan. 5, 2012, 7:05 AM
    Chinese shares gave up early gains to finish the day down 1% following weak results from China Vanke, the country's largest property developer. At $924M, sales posted the 5th straight month of declines and were off 30% from a year earlier. For 2011, sales beat out 2010 by 12.4% despite the loss of momentum in H2. Vanke shares -2.7%.
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  • Jan. 5, 2012, 4:15 AM
    HSBC China services PMI held steady at 52.5 in December. Though activity is at a three-month low, it caps off the seventh consecutive year of expansion for China's service sector.
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  • Jan. 1, 2012, 7:58 AM
    China's official December PMI rises to 50.3, beating estimates of 49.1 and last month's 49.0. The "festival effects" of the western New Year and upcoming Chinese celebrations helped boost the gauge, says the statistics bureau in a statement. HSBC's PMI also rose in December, but remained in contractionary territory at 48.7.
  • Dec. 30, 2011, 1:34 AM
    China’s manufacturing contracted for a second month in December, with HSBC's PMI coming in at 48.7 from 47.7 the month before. The weak manufacturing data adds pressure to officials to consider loosening monetary policy.
  • Dec. 29, 2011, 8:32 AM
    One year ago, bulls on China were scoffing at the idea of a slowdown in Chinese growth. Now those same bulls insist China is not at risk of a hard landing. Noting the prevalence of fraudulent companies, Joseph Sternberg asks what kind of a sustainable economy can be built atop a regulatory system that essentially forces "firms to fudge their books."
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  • Dec. 29, 2011, 2:44 AM
    China wants foreign investors to focus on hospitals, financial-leasing companies and sectors that bring new technology to the country, and to minimize investment in such traditional draws as automobile factories or petrochemicals. The 29-page list of investment guidelines was released today, and kicks in on Jan. 30.
  • Dec. 28, 2011, 7:31 AM
    Chinese policymakers - schooled on average capital inflows of $40.5B/month since 2005 - are going to have to adjust their game to deal with the new reality of capital outflows, writes Kevin Yao. The most likely tool is lower bank reserve ratio requirements. This has the beauty of reversing tightened liquidity without easing monetary policy in the face of still-speedy inflation.
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  • Dec. 27, 2011, 9:45 AM
    Against a late year rally that has brought U.S. shares to a 5-month high are continuing declines in China, with a 1.1% fall last night bringing the month's losses to 7.2% and the Shanghai Composite to its lowest close since March 2009. Among the losers was Anhui Conch, the country's largest cement maker, -2.4% for the session and 47% YTD amidst mass overcapacity in the sector.
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  • Dec. 27, 2011, 3:29 AM
    China will speed up its vetting of M&A deals in 2012, says commerce ministry official Shang Ming. The number of domestic and cross-border deals are rising quickly as a sluggish global economy pushes companies to find growth through M&A.
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  • Dec. 27, 2011, 2:26 AM
    Profit growth for Chinese industrial companies is slowing, according to newly released data, with net income +24.4% in the first 11 months of 2011 to 4.66T yuan ($737B). This compares to a 25.3% gain in the first 10 months, and a 27% gain in the first three quarters.
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  • Dec. 25, 2011, 1:04 PM
    Japan and China will promote direct trading of yen and yuan without using dollars, Japan said today, and will encourage the development of a market for the exchange to cut the cost for companies. It's part of a broad and innovative package of financial agreements designed to tighten ties between the two giants.
  • Dec. 23, 2011, 12:42 PM
    "The collapse in the real estate market has already occurred," says Steve Dickinson reporting from Qingdao, the only question is how the government will pick up the pieces. The only sales taking place are those at 30-50% discounts and work on uncompleted projects has slowed or stopped. Land sales - a key source of government revenue - are no longer getting a bid at any price.
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PGJ Description
The PowerShares Golden Dragon China Portfolio (Fund) is based on the Halter USX China Index (Index). The Fund will normally invest at least 90% of its total assets in equity securities that comprise the Index. The Index is comprised of the U.S.-listed securities of companies that derive a majority of their revenue from the People's Republic of China. The Index is designed to provide insight and access to the unique economic opportunities taking place in China while still providing investors with the transparency offered with U.S.-listed securities. The Fund is rebalanced and reconstituted quarterly.
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Country: China
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