43.00 -2.11 (-4.68%)
Pre-Market: 6:36AM EST
|Bid||43.00 x 41800|
|Ask||43.02 x 47300|
|Day's Range||44.91 - 45.11|
|52 Week Range||37.66 - 45.96|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||6.05%|
|Beta (5Y Monthly)||1.29|
|Expense Ratio (net)||0.74%|
As the formalization of the Sino-US trade deal nears, China's recently-released export data for December looks encouraging. In such a scenario, we highlight some ETFs that can gain.
The Phase One trade deal is important because it is "better than being at constant war," Hochberg said. While the two countries were able to come to some sort of trade agreement, a lot of topics concerning farmers and workers were not included, he said. The trade deal amounts to a "purchase agreement," and it is difficult to predict when a "Phase Two" deal will come into the picture, Hochberg said.
The United States will no longer consider China a currency manipulator, according to media reports. Bloomberg said Monday that Trump administration sources said the Treasury Department will lift the designation of China as a currency manipulator in an upcoming semi-annual report. The Treasury Department labeled China a currency manipulator last August, escalating the trade war between the countries, following a move by China’s central bank to allow the Chinese currency, the yuan, to fall in response to newly enacted U.S. tariffs.
Policy easing, subsiding trade tensions, technological disruption and solid household savings should boost these China ETFs in 2020, even after a solid 2019.
Protests in Hong Kong continued over the Christmas holiday with a flurry of tear gas and arrests as police clashed with protesters following weeks of relative calm, according to The Wall Street Journal. Thursday marked the third straight day of political unrest over the Christmas period as police and protesters clashed inside shopping malls. On Wednesday, Hong Kong's pro-Beijing leader Carrie Lam said violent protesters had "ruined" Christmas, according to Channel News Asia.
The iShares China Large-Cap ETF (FXI) , the biggest China-specific ETF by assets under management, is higher by almost 4.4% this month and that puts the benchmark China fund in position for a technical breakout of potentially massive significance. FXI and other China ETFs have recently rallied against the backdrop of cooling trade tensions between that country and the U.S., the world's two largest economies. Like the majority of emerging markets, China hasn’t been immune to the pangs of the market volatility within the last couple of months due to the U.S.-China trade war.
For example, there has been a few large-scale M&A deals in 2019, but most transactions are occurring at private companies, Calvasina said. The U.S.-China trade dispute has lasted more than a year and has been characterized by "unnecessary economic conflict to achieve almost nothing," Adam Posen, the president of the Peterson Institute, said Friday on Bloomberg TV.
Chinese officials said Friday that the a Phase One agreement has been reached with the U.S. on trade that includes a phased rollback of tariffs. The Dow Jones Industrial Average jumped more than 100 points as Chinese officials began a press conference late Friday Chinese time to announce the agreement. Chinese Commerce Vice Minister Wang Shouwen announced the deal.
As of Friday morning, China had yet confirmed a Phase One trade deal, and the U.S. had offered no details on the agreement reported Thursday night. Nobody seems to know what’s going on, but the markets have a hunch: the SPDR S&P 500 ETF Trust (NYSE: SPY) steadily surged on the early confidence of U.S. officials but abruptly plummeted Friday morning, betraying a loss of faith in any progress. Chinese officials have scheduled a press conference for 9:30 a.m. Friday, according to CNBC.
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The WSJ reported Tuesday that trade negotiators do not consider Sunday to be a hard deadline for completing a phase one trade deal, even though President Donald Trump has said the U.S. would raise tariffs on $165 billion in Chinese goods on that date. The deadline could once again be extended, although Trump has not yet decided on a course of action, the newspaper reported. Last week, Trump said he is willing to wait until after the 2020 U.S. election to complete a phase one deal.
President Donald Trump said Tuesday that a trade agreement with China may not until after the U.S. presidential election in November 2020, injecting further volatility into markets. “I have no deadline, no. In some ways, I think I think it’s better to wait until after the election with China,” Trump told reporters in London, according to Reuters. Trump on Tuesday also reacted to an earlier comment by French President Emmanuel Macron where he referred to the “brain death” of the North Atlantic Treaty Organization.
The bill will require the U.S. Secretary of State to certify every year that Hong Kong retains sufficient autonomy from Beijing to warrant its special trade status, according to The Wall Street Journal. Both bills are aimed at supporting improved human rights in Hong Kong but differ in some key aspects, such as on what sanctions to impose on the human rights violators.
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The iShares FTSE/Xinhua China 25 Index (NYSE: FXI) popped 1.5% and the SPDR S&P 500 ETF Trust (NYSE: SPY) traded up marginally Monday on reports of progress in U.S. trade relations. At the invitation of President Donald Trump, China’s Xi Jinping may soon cross the Pacific to sign phase one of a deal. Before a Monday Bangkok meeting with Chinese Premier Li Keqiang, Commerce Secretary Wilbur Ross said the U.S. was “very far along” with an initial trade deal, and U.S. negotiators were in the process of “making sure that each side has a very correct and clear, detailed understanding of what each side has agreed to,” according to Bloomberg.
China’s PMI increased to 51.7 in October from 51.4 in September. The Caixin China General Manufacturing PMI rose to the highest level since February 2017.