|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||30.50 - 30.63|
|52 Week Range||23.44 - 32.50|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.67%|
Momentum has certainly helped Chinese equities like Tencent Holdings (0700.HK)and Alibaba Group (BABA) rocket higher, but price momentum may not be the best factor to exploit when investing in China's A-shares market. Societe Generale strategist Andrew Lapthorne took a look at which factors work well in the A-shares market ahead of the inclusion of these shares into the MSCI Emerging Markets index next year. Lapthone writes: "Conventional wisdom dictates that China A should be a momentum-driven market given the level of retail participation, but our analysis shows that momentum does not work." While investors often look to Asia for growth, most investors end up overpaying and growth strategies don't tend to work. Lapthorne writes:"The highest growth companies more often than not fail to deliver on their growth expectations and investors who have bought into these companies at high multiples suffer as a result.
For years, China watchers have feared a debt implosion. While China's high debt levels still pose a major risk, emerging market managers in this week’s Barron's cover story argued the risk it triggers a global crisis are falling. Rajiv Jain, manager of the GQG Partners Emerging Markets Equity Fund, sees a China debt problem playing out a bit like Japan's, in a slow-burn manner rather than triggering a 2008-like financial crisis.
According to a report provided by the National Bureau of Statistics of China, on a yearly basis, China’s retail sales rose 10% in October compared to a 10.3% rise in September 2017.
According to data provided by Markit Economics, the Caixin China Services PMI (purchasing managers’ index) improved in October 2017 from its 21-month low in September.
The October China manufacturing PMI (purchasing managers’ index) report indicates a fall in manufacturing activity in October as compared to September 2017.
China and the rest of the emerging markets assets class have outperformed the U.S. and Europe all year. It's the fourth quarter, and that means profit taking time.
Dear Hard Landing Aficionados: wrong again. Shanghai-listed corporates see double-digit earnings growth. Combined revenues of Shanghai companies bigger than Russia, India and Brazil economies.
According to a report provided by the National Bureau of Statistics of China, the consumer confidence index for China stood at 114.7 in August 2017 compared to 114.6 in July.
According to a report provided by the National Bureau of Statistics of China, China’s inflation index improved 0.50% in September 2017 compared to a 0.40% rise in August 2017.
According to data provided by Markit Economics, the Caixin China Services PMI stood at 50.6 in September 2017 compared to 52.7 in August 2017.
The September China manufacturing PMI (Purchasing Managers’ Index) report indicates a strong rise in manufacturing activity compared to August 2017.
China’s GDP grew at an annualized rate of 6.8% in 3Q17 and met the market expectation. The economy expanded at an annualized rate of 6.9% in the first two quarters of 2017.
There is a lot of navel gazing going on today, the anniversary of the 1987 U.S. stock market crash, when there ought to be more discussion of China’s slowing GDP. It’s true that the downdraft of real gross domestic product in the third quarter was small, to 6.8 percent from 6.9 percent in the second and first quarters. The iShares MSCI China Large-Cap exchange-traded fund (FXI) was down 2.2% in early trading, while the Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) slipped 1.1% as did the iShares MSCI Emerging Markets ETF (EEM).
Debt is a big cloud over China, and deleveraging after the big Party Congress next week could destabilize markets. Despite a likely acceleration in deleveraging, and the Communist Party's role in the economy, "pain should be manageable, Societe Generale Asia strategists Frank Benzimra, Rajat Agarwal and Makhdoom Muteeb Raina write. Strategically, all depends on the institutional reform agenda, where we do not anticipate much improvement.
Amazing: China has enough money to buy Venezuela in cash, and would still have enough sitting in reserves to rival Brazil and Russia's economies combined.