The investment seeks to track the investment results of the MSCI China Index. The fund generally will invest at least 80% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The index is a free float-adjusted market capitalization-weighted index designed to measure the performance of equity securities in the top 85% in market capitalization of the Chinese equity securities markets, as represented by the H-shares and B-shares markets. The fund is non-diversified.
IPO Year: n/a
Exchange: NASDAQ
Chinese electric vehicle stocks, including NIO Inc (NYSE:NIO), Li Auto Inc (NASDAQ:LI), and XPeng Inc (NYSE:XPEV), are trading higher Monday. China, a key AI chip and electric vehicle market, faces several economic challenges, including weak growth in the second quarter and looming deflation. On Monday, the People’s Bank of China (PBOC) announced that it would cut the seven-day reverse repo rate to 1.7% from 1.8% and reduce the one-year loan prime rate (LPR) to 3.35% from 3.45%. Additionally, China lowered the five-year LPR to 3.85% from 3.95%. Also Read: Alibaba, Chinese Tech Stocks And EV Stocks NIO, XPeng, Li Auto Tumble After Disappointing Economic Report EV stocks also got a
The Chinese exchange-traded funds (ETFs) market has seen a fivefold increase in investments over the past three years What Happened: As per Morningstar, the inflow into Chinese ETFs has experienced “staggering” growth, consistently reaching new highs over the last five years, CNBC reported on Tuesday. Wanda Wang, Morningstar’s Research Manager, mentioned that the annual inflows to China ETFs surged almost fivefold in the past three years. Data from the American financial services firm shows that the total yearly inflows to Chinese ETFs swelled from 127.2 billion yuan ($17.49 billion) in 2021, to 387.2 billion yuan ($53.2 billion) in 2022. In 2023, this figure hit 604.3 billion yuan ($8
Key Takeaways: iHuman’s revenue and profit both declined in the first quarter as it accelerated a global expansion plan to diversify beyond its softening home market in China The company’s gross margin and total users both improved, but the omission of its latest paid user count suggests that key metric continued to decline By Doug Young Sometimes what’s left unsaid speaks the loudest. That could partly explain the 4.3% decline for shares of iHuman Inc. (NYSE:IH), a provider of educational products and services for young children, after it published its latest quarterly results last Friday. The report notably didn’t include the company’s latest number of paying users at the end of Ma
Chinese stocks improved on Monday after data on June manufacturing came in better than forecast and reached its highest point in three years. The CSI 300 Index, which follows China’s largest companies listed in Shanghai and Shenzhen, rise 0.5% on Monday to come out of a four-month low and build on Friday’s 2% gain, the South China Morning Post reported. Hong Kong's financial markets were closed for a holiday. Japan's Nikkei 225 edged up 0.1%, while South Korea's Kospi gained 0.2% yet Australia's S&P/ASX 200 declined 0.2%. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) improved from 51.7 in May to to 51.8 in June to set the fastest pace since May 2021 and beat a
A JPMorgan Chase & Co analyst, who was previously bearish on China’s tech sector, is now predicting a significant increase in stock prices. What Happened: Alex Yao, the co-head of Asia TMT research at JPMorgan, has made a remarkable shift in his stance on China’s tech sector. Yao, who was once skeptical about the sector’s potential, is now forecasting a 20-25% increase in stock prices, reported Bloomberg on Wednesday. Yao attributes this potential growth to an improved cost structure and less aggressive competition. He also emphasizes the significance of macroeconomic developments in stabilizing the sector’s share price trend. This change in tone from a notable skeptic like Yao is i
Pan Gongsheng, governor of the Chinese central bank, People’s Bank of China, dismissed the idea that its bond trading is a form of massive monetary easing. What Happened: Gongsheng clarified that the bond trading would be a liquidity management tool involving both buying and selling, the Wall Street Journal reported on Wednesday. The PBOC and the finance ministry are exploring ways to incorporate treasury bond trading into their policy toolkit. He emphasized that this practice would not be equivalent to quantitative easing, a strategy where monetary authorities acquire assets like government bonds to reduce yields after exhausting traditional policy tools. The PBOC’s bond trading wi
China’s housing market continued to decline in May as manufacturing disappointed expectations. The real estate sector saw declines in investment and home prices, while industrial output gained 5.6% in May, according to the National Bureau of Statistics, the latter slowing from April and missing Bloomberg projections. Retail sales did better than expected, but China’s consumers are still reluctant to return to pre-pandemic spending habits, Bloomberg reported. This lackluster scenario may prompt Beijing to spur consumer demand in an effort to meet 5% growth targets, possibly through increased government spending and central-bank efforts to put a floor under housing markets and boost l
In a bid to stabilize the yuan and manage liquidity, the People’s Bank of China has decided to keep its key interest rate unchanged for the tenth consecutive month. What Happened: The PBOC has maintained the one-year policy loan rate, also known as the medium-term lending facility rate, at 2.5% for the tenth month in a row on Monday, reported Bloomberg. This decision aligns with the forecast in a Bloomberg survey. The bank also withdrew a net 55 billion yuan ($7.6 billion) from the banking system to prevent excessive liquidity. Despite a fragile recovery in the world’s second-largest economy, the PBOC has chosen to prioritize currency stability over reducing borrowing costs. This c
Alibaba Group Holding Ltd (NYSE:BABA) is prioritizing long-term growth over near-term profits. However, analysts are warning that the e-commerce giant’s efforts might be hampered by fierce competition. What Happened: Alibaba’s market dominance has been significantly eroded due to increasing competition and a lack of focus on technological and pricing strategies, reported The Wall Street Journal on Tuesday. Despite early signs of success, analysts are concerned that the competition could prevent Alibaba from regaining its former market dominance, according to the report. The company’s market share has fallen from an impressive 83% when it went public in 2014 to 39.5% currently, as per d
Chinese electric vehicle startup NIO, Inc (NYSE: NIO) reported fiscal first-quarter 2024 revenue of 9.91 billion yuan ($1.37 billion), down by 7.2% year-over-year and down by 42.1% from the previous quarter. Analysts, on average, estimated revenue of $1.48 billion for the quarter. Excluding share-based compensation expenses, the company reported an adjusted loss per share/ADS of (2.39) yuan or ($0.33) compared to (2.51) yuan in the year-ago quarter and (2.81) yuan in the fourth quarter of 2023. Analysts had called for a loss of $(0.31) per share. The stock price declined after the print. Also Read: Nio, XPeng, and Li Auto See Major Sales Growth in May, Attracting Investor Interest V