|Bid||0.000 x 900|
|Ask||0.000 x 1100|
|Day's Range||25.31 - 25.44|
|52 Week Range||24.62 - 27.74|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||-7.46|
|Expense Ratio (net)||0.45%|
Futures Down Again, China Hits 4-year lows, Yuan Throttled, Treasuries Back Above 3.2% US stock futures were down a bit but mostly subdued, while movement in Asia was a little wilder. China’ Shanghai Composite Index reached new 4 year lows today, down another 3% on the day as the Yuan (NYSEARCA:CYB) got perilously close to […] The post Market Morning: China, Yuan Crushed; Fed Minutes Sparse, HIV Meets Match, Exxon Wants China appeared first on Market Exclusive.
Chinese stocks rallied Monday, with technology-related ETFs taking the lead, after the People's Bank of China signaled it would take a more proactive approach to combating a stronger U.S. dollar and uncertainty surrounding the trade war between Washington D.C. and Beijing. Additionally, the broader iShares China Large-Cap ETF (FXI) added 1.9% and Xtrackers CSI 300 China A-Shares ETF (NYSEArca: ASHR ) , which tracks mainland Chinese A-shares, increased 2.2%, with both testing their short-term resistance at the 50-day simple moving average. The China-related ETFs strengthened on a more optimistic outlook on the yuan currency.
Possible retaliatory ways of China against Trump administration's claims of imposing tariffs on about $505 billion of goods and its ETF impact.
Will New Tariffs Push China to React? In its arsenal to counter Trump’s aggressive tariffs, China could resort to the devaluation of its currency (CYB) against the US dollar (UUP) as one of its possibilities. Devaluing its currency (CNY) would partially offset the impact of tariffs, as US consumers would be paying less in US dollars to buy Chinese imports.
Will New Tariffs Push China to React? The first week of April proved to be a roller coaster ride for the markets. Markets began and closed the week with sharp selling as the trade friction between the US and China escalated further.
As we discussed in the previous part of this series, China (FXI), Japan (EWJ), Ireland, and the Cayman Islands hold the majority of the debt issued to the United States. The reason for these countries holding such high US debt is the trade surplus with the United States. The United States pays for this trade deficit in US dollars (UUP), and these countries use these surplus funds to buy dollar assets, mostly US government debt.