5d 1m 3m 1y 5y 10y
China Should Woo Camelot, Others In Privatization WaveDoug Young • Mon, Mar. 31
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PGJ vs. ETF Alternatives
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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Thursday, Mar 274:53 AM
Thursday, Mar 274:53 AM| Comment!
- 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
Monday, Mar 242:24 AM
Monday, Mar 242:24 AM| 6 Comments
- 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
Friday, Mar 214:30 AM
Friday, Mar 214:30 AM| Comment!
- 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
Tuesday, Feb 254:19 AM
Tuesday, Feb 254:19 AM| 1 Comment
- 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
Friday, Jan 244:23 AM
Friday, Jan 244:23 AM| Comment!
- 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
Thursday, Jan 234:46 AM
Thursday, Jan 234:46 AM| 2 Comments
- 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
Wednesday, Jan 225:03 AM
Wednesday, Jan 225:03 AM| Comment!
- 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
Tuesday, Jan 213:36 AM
Tuesday, Jan 213:36 AM| Comment!
- 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
Friday, Jan 174:19 AM
Friday, Jan 174:19 AM| Comment!
- 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
Tuesday, Jan 145:38 AM
Tuesday, Jan 145:38 AM| Comment!
- 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
Monday, Jan 62:45 AM
Monday, Jan 62:45 AM| 1 Comment
- 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
Wednesday, Dec 252013, 4:51 AM
Wednesday, Dec 252013, 4:51 AM| 1 Comment
- Chinese shares closed up 0.6% in thin trading as short-term money market rates dropped for a second day in a row after previously rising sharply and hurting stocks.
- The seven-day repurchase rate fell 86 bps to 5.58% following an injection of capital from the People's Bank of China, which had refrained from such moves for much of December.
- Year-end tax refunds that businesses received from the government and deposited in bank accounts also helped to increase liquidity among banks.
- Hong Kong was closed for Christmas.
- ETFs: FXI, PGJ, GXC, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, MCHI, YANG, PEK, ASHR, CQQQ, XPP, QQQC, DSUM, YAO, CHXX, CHII, KWEB, FXCH, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Monday, Dec 232013, 3:32 AM
Monday, Dec 232013, 3:32 AM| Comment!
- Following an uncertain beginning, the Shanghai Composite has closed up 0.2% and ended a run of nine consecutive sessions of losses, its longest losing streak since 1994. The Hang Seng finished +0.6%.
- Chinese shares rose despite another spike in short-term interest rates, which had hurt stocks last week. Even though the People's Bank of China provided a further emergency injection of money on Friday, the seven-day repurchase rate was 73 bps higher at 8.94% as of the midafternoon after touching 9.8% at one stage. That's the highest level since the liquidity crunch in June.
- However, market watchers say that the increase in money market rates is due to seasonal factors, which might help account for the small recovery in stocks today.
- Prior to its emergency provisions of liquidity, the PBOC had refrained from injecting money into the system as it looked - and still does - to rein in soaring debt in China. This has been highlighted by a state think tank that estimates that local-government loans have almost doubled to 19.9T yuan ($3.28T) in 2010-2012. Total central and local government debt was almost 28T yuan at the end of 2012, representing 53% of GDP.
- ETFs: FXI, PGJ, GXC, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, MCHI, YANG, PEK, ASHR, CQQQ, XPP, DSUM, QQQC, YAO, CHXX, CHII, KWEB, FXCH, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Friday, Dec 202013, 3:36 AM
Friday, Dec 202013, 3:36 AM| 7 Comments
- Chinese stocks have closed down for the ninth consecutive session, the worst run since 1994, amid increasing fears of another cash crunch in the short-term money markets.
- The seven-day repurchase rate soared 100 bps to a six-month high of 7.6%, representing a jump of 328 bps this week.
- The spike came as borrowing remained difficult despite the People's Bank of China making an emergency cash injection in the financial system yesterday after being inactive for over two weeks. The PBOC didn't provide too many details, although the amount was reported to be 200B yuan ($32.9B).
- "Market participants have to be able to see it and know the quantity and tenor of liquidity assistance in order to be reassured," says HSBC's Pin Ru Tan. "If they do not, it is natural to remain cautious.
- The Shanghai composite fell 2% and the Hang Seng -0.2%.
- ETFs: FXI, PGJ, GXC, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, MCHI, YANG, PEK, ASHR, CQQQ, XPP, QQQC, DSUM, YAO, CHXX, CHII, FXCH, CHXF, KWEB, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
Monday, Dec 22013, 5:14 AM
Monday, Dec 22013, 5:14 AM| Comment!
- Chinese shares ended -0.6% after authorities introduced rules that would allow IPOs to resume in 2014 year following a year-long suspension.
- The concern is that with hundreds of companies waiting to list, a wave of offerings could squeeze liquidity from existing shares.
- Still, the regulations, which include stricter disclosure requirements and shorter review times, are considered to be a positive for the long term.
- ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, TAO, CHIQ, CHIX, YANG, MCHI, PEK, XPP, YAO, CHXX, ASHR, CHII, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, TCHI, FCA, CHNA
Monday, Nov 182013, 5:01 AM
Monday, Nov 182013, 5:01 AM| 1 Comment
- Asian shares mostly rise following the release of China's economic reform plan on Friday, with Hong Kong-listed Chinese shares jumping 5.7%, the Shanghai Composite 2.9%, and the Hang Seng 2.7%.
- Analysts at ANZ called the program "the biggest freeing up of China's economic policy since the 1990s." If implemented successfully, it would "substantially reduce the downside risks to China's economy."
- Elsewhere in Asia, Japan flat after surging 7.7% last week, and India +2.2%.
- Chinese ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, TAO, CHIQ, CHIX, YANG, PEK, MCHI, XPP, CQQQ, QQQC, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, ASHR, KFYP, KWEB, FCA, TCHI, CHNA
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DAG1996:: Thanks for pointing out ... excellent read I probably would've missed otherwise.
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The Last Boomer:: define failing