Advanced Energy puts heat on XP Power shareholders to accept takeover bid
- XP Power Ltd (LSE:XPP) has received a “possible” all-cash offer from US technology company Advanced Energy Industries for 1,950p per share. This latest offer values the company at £468 million and represents a 68% premium to XP Power's closing share price and an 82% premium to its 30-trading day volume-weighted average price.
- 05/21/2024
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China's Economy Is Not In A Great Decline But A Great Transition
- China's near-term challenges and long-term uncertainties are plentiful, but the widespread pessimism towards the Chinese economy and markets feels excessive.
- 03/27/2024
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PBOC Held Rates Steady In March
- The PBOC held the 1-year medium-term lending facility (MLF) rate at 2.5% in March. The PBOC remains on a dovish tilt, but depreciation pressure on the RMB limits room for monetary easing in China before global central banks start to cut rates.
- 03/15/2024
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Top Performing Leveraged/Inverse ETFs: 02/25/2024
- These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 02/27/2024
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Enter The Dragon: Parsing Lunar New Year Opportunities Among Emerging Markets
- China and Hong Kong markets had a humbling 2023 with equities down more than 10%. Beijing has also begun stepping up tourism and travel promotions, granting visa-free entry to 11 countries, with Singapore and Thailand the latest to be included.
- 02/21/2024
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Why China May Need To Do More To Boost Investor Confidence
- Why China May Need To Do More To Boost Investor Confidence
- 02/07/2024
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China Begins Year Of The Dragon With Weak Economic Momentum
- The Chinese economy is stabilising, but the only fireworks will come from the new year celebrations, which begin on February 11, as momentum remains weak. China's GDP growth for the fourth quarter rose from 4.9% year-on-year to 5.2%, bringing 2023 full-year growth to 5.2% YoY, exceeding the 5% growth target set at last year's Two Sessions.
- 02/07/2024
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China Growth Could Slow Amid Limited Policy Options
- While recent policy announcements and data surprises have generated some optimism, we maintain a cautious stance on China's economic prospects. We believe weak consumption trends, a downbeat labor market and continuing property sector headwinds should all weigh on the economy in the coming quarters.
- 02/03/2024
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China Outlook: Market Rescue Welcomed, But More Needed
- In response to the recent China equity market rout, policymakers vowed last week to stabilize the market through more forceful measures. Despite a very positive initial market reaction (an 8% rebound in three days), deeper fundamental issues such as deflationary risks and lack of demand remain key concerns for China's economy.
- 02/03/2024
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Restarting China's Economic Growth
- China's government is finally moving to stimulate the economy after its sluggish post-COVID reopening.
- 01/24/2024
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China Canary Warns About Global Economy And The Downside To Euphoria
- Chinese stock prices have lost money in the 16 years since 2007 and are now back near 2005 levels. Chinese treasury bonds have rallied sharply as beaten-up capital capitulates out of riskier markets and back to the relative safety of government bonds.
- 01/23/2024
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Top Performing Leveraged/Inverse ETFs: 12/31/2023
- Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 01/03/2024
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Consider This: Is India The New China?
- India's potential for economic growth lies in its young population, business-friendly reforms, and technology sectors. To unlock this potential, India needs long-term policies to address structural constraints and short-term infrastructure investments.
- 12/09/2023
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China PMI Signals Tentative Growth Revival, Prices Edge Higher
- Mainland Chinese economy shows signs of regaining growth momentum in November, with higher output, new orders, and improved business conditions. Business expectations remain below average, leading to job cuts for the third consecutive month.
- 12/06/2023
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China: Momentum Waned In October
- PMI data for October showed momentum in China's economy waned following recent improvements in hard activity data. By industry type, most manufacturing sectors experienced a slowdown in growth in October, though for companies that are heavy consumers of energy, activity actually declined slightly, perhaps affected by recent increases in the prices of crude energy.
- 10/31/2023
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China Could Derail Japan's Fragile Recovery
- The IMF, the World Bank, and the United Nations all rank China and Japan as the second and third largest economies on the planet. More of what is occurring in the markets should reflect what is happening in China and Japan which are strongly linked economically.
- 10/09/2023
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How China Is Dodging The Doom Loop
- While China's economy is still struggling, it is at least not getting incrementally worse and there are some pockets of improvement. Exports continue to decline in year-on-year terms, but the rates of decline are decreasing.
- 10/07/2023
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China's Growth Is Slowing: What Does It Mean?
- While slower growth in China will impact the global economy and financial markets, we think the short-term pain is necessary to avoid bigger problems down the road. China's economy is in the early stages of a long-term transition away from an export-driven, investment-led model toward a more balanced one with more domestic consumption.
- 09/23/2023
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2 ETFs to Watch for Outsized Volume on Large-Cap Value & Leveraged China
- Two ETFs PWV and XPP traded with an outsized volume on Friday.
- 08/14/2023
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Top Performing Leveraged/Inverse ETFs: 07/30/2023
- These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 08/01/2023
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Will China's Efforts To Boost Its Struggling Economy Pay Off?
- China's central bank tries new stimulus efforts to boost slowing growth. Why unemployment is proving to be key to China's economic troubles.
- 06/20/2023
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Top Performing Leveraged/Inverse ETFs: 03/26/2023
- Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 03/28/2023
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Top Performing Leveraged/Inverse ETFs: 01/08/2023
- Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 01/10/2023
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China: Timing Of Recovery Is A Big Question Mark
- China has drastically eased its Covid-19 measures. Both domestic mobility and international traffic should increase in 2023.
- 01/10/2023
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China's Economy: Don't Get Your Hopes Up Just Yet
- Most global economists feel that any recovery in China could be more U-shaped than V-shaped. The 2022 Chinese economy can best be described as a spluttering car engine.
- 01/04/2023
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Top Performing Leveraged/Inverse ETFs: 12/04/2022
- Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 12/07/2022
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Top Performing Leveraged/Inverse ETFs: 11/06/2022
- Top Performing Levered/Inverse ETFs Last Week These were last week's top-performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 11/08/2022
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China After The National Party Congress: 3 Challenges Facing The Country
- It appears to us that there is less potential for support for the country's embattled housing sector in the near term. While there had already been restrictions on the export of high-end chips to China, Biden's recent announcement basically expanded the number of components that are restricted.
- 11/02/2022
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China Still Investible--If You Know Where To Look
- Our main takeaway from China's 20th Party Congress is the emphasis on security, implying further self-sufficiency—and potential investment opportunity—in the food, energy and technology sectors. At the time of writing, Chinese stocks have regained most of the decline immediately following the Congress, a decline precipitated by unreasonable expectations of positive policy change in areas such as Zero-COVID.
- 10/29/2022
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What To Expect From China's 20th Party Congress
- The basic power division in China is between the Party and the state apparatus. The most interesting personnel changes will be those affecting members of the Politburo Standing Committee.
- 10/04/2022
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Asian Exports Are Softening
- Non-China Asian exports are still growing, but the pace of increase has slowed and will slow still further as key export destinations struggle with inflation, energy security, and rising recession risks. In year-on-year terms, the rate of overall export growth is now skirting single-digits again.
- 09/01/2022
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The Challenges Ahead For China's Economy
- Chinese economy may do modestly better in the second half of 2022. Longer term, the primary headwind for the Chinese economy lies in demographic patterns.
- 08/29/2022
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China's Economy Has Faced Headwinds, But Are Investment Opportunities Emerging?
- China's economy has struggled, but may be turning a corner. Why investors may want to consider Chinese stocks in their long game.
- 08/04/2022
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China's Stimulative Policy Actions: Turning The Tide For Investors
- China's zero-COVID policy has cratered the economy, severely hampering mobility and discouraging consumer spending on services. In addition, it has extended economic uncertainty for businesses and caused significant disruption to supply chains.
- 07/01/2022
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China's Economic Outlook For The Second Half Of 2022
- China's nominal GDP reached $17.5 trillion in 2021, a growth rate of 8.1%. We expect a slower GDP growth rate in 2022 due to very tight Covid measures in Q2 of this year.
- 06/29/2022
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Top Performing Leveraged/Inverse ETFs: 06/05/2022
- Top Performing Levered/Inverse ETFs Last Week These were last week's top-performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
- 06/07/2022
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China Growth: Brighter Prospects?
- The latest batch of official PMI data gave a nice boost to Chinese equities and also commodities. While China's supply-side stimulus allows to “mobilize” the official sector fairly quickly, it does not do much for small privately-owned companies.
- 06/01/2022
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The Chinese Slowdown: Much More Than Covid
- The most recent macroeconomic figures show that the Chinese slowdown is much more severe than expected and not only attributable to the Covid-19 lockdowns. It is easy to use the Covid-19 lockdowns as the reason for the weakening of the Chinese economy but that would be a gross simplification.
- 05/07/2022
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China Stocks Jump Most Since 2008: ETFs Up At Least 20%
- China's stocks and ETFs registered a massive leap on Mar 16 after the country's state council promised to keep its stock market steady.
- 03/17/2022
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Stop, Look, Listen!
- The financials of the Chinese companies are whatever the Chinese Communist Party wants them to be. They do not allow outside third-party audits. There is no verification of anything. The Chinese intervention began with DiDi, spread to the tech companies, enlarged to the educational sector, and then found its way into the gaming companies.
- 09/15/2021
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China - The Carnage Continues
- China's tech stocks slumped to new lows on Friday and Hong Kong's benchmark index hit a 10-month low as an unrelenting series of Chinese regulatory crackdowns crushed international investors. Further, China announced tougher rules on competition in the tech sector again, and they also summoned executives at several property developers warning them to reduce their debt significantly. The Chinese media also reported looming regulations for a new sector - liquor makers.
- 08/22/2021
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Understanding China's Recent Moves In Its Capital Markets
- Since I started going to China 36 years ago, I have found that most Western observers who do not have direct contact with policymakers and don't follow in detail the patterns of the changes have tended to not believe that the Chinese Communist Party's usage of capital markets to foster development is real. In the case of the educational tutoring companies, they want to reduce the educational inequality and the financial burden on those who are desperate to have their children have these services but can't afford them by making them broadly available.
- 08/02/2021
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YINN: Revisiting A China Focused ETF In The Year Of The Bull
- YINN: Revisiting A China Focused ETF In The Year Of The Bull
- 05/19/2021
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Sizing Up China Inside Popular ETFs
- Flows into China-focused ETFs are surging as investors position for China's growing economic and financial strength. Non-Chinese investors are generally overlooking China's growing influence on the global economy and in capital markets.
- 05/17/2021
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Institutions Are Not Waiting On MSCI China A-Share Inclusion
- China currently represents just 5% of the MSCI All Country World Index (ACWI) while the US represents 58%. Since the beginning of 2020, the MSCI China A Index has outperformed the CSI 300 Index by 561 basis points, as shown in Figure 2.
- 05/15/2021
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China's Economic Rebalancing
- China's growth trajectory in the second decade of the century has been one of a rebalancing toward a new growth pattern. Two major challenges in the rebalancing: First, the transition toward a less investment- and export-dependent growth model has been taking place from a starting point of exceptionally low consumption-to-GDP ratios.
- 04/12/2021
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China: PMI Shows Recovery But Risks Remain
- Both manufacturing and non-manufacturing PMIs show a strong recovery of the Chinese economy. The main challenges remain the technology war with the US and its allies and a fragile export recovery due to Covid-19 in the Western world.
- 03/31/2021
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Logistics In A Post-Pandemic World
- Supply chains were disrupted long before the pandemic by U.S.-China trade tensions.
- 03/22/2021
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