CHIX News and Press, Global X MSCI China Financials From 09/01/23

2023-09-01 21:30:00 ET Summary Given the fact that equity valuations are so extreme and at such a precarious time in the economic cycle, it’s probably wise to maintain a defensive position in the markets. In fact, I would argue that it calls for maximally defensive position...

2023-09-01 03:38:33 ET Stimulus measures continue to be rolled out as real estate headwinds weigh on China's economy. The government will now allow the country's largest cities to cut down payment percentages for home buyers and will persuade lenders to lower rates on existing mortgages...

2023-09-01 01:50:51 ET Japan +0.47% . Japan Jibun final August PMI: Manufacturing 49.6 (prior 49.6) . Japan data: Q2 Corporate Capital spending +4.5% y/y (vs. expected +5.4%). China +0.29% . China data: Caixin/S&P Global August 2023 Manufacturing PMI: 51.0 (exp...

2023-09-01 00:30:00 ET Summary China’s latest activity data worsened across nearly every component. Markets have given up looking for fiscal stimulus, and have started making comparisons with 1990s Japan. We don’t agree with the Japanification hypothesis, but clearly...

2023-08-31 23:49:45 ET The Caixin China General Manufacturing PMI rose to 51.0 in August 2023 from 49.2 in July, beating market estimates of 49.3, marking the strongest pace of expansion in factory activity since February, also marking the fifth time of increase since the start of the y...

2023-08-31 03:13:13 ET Japan +0.88% . Japan Industrial Production (July, preliminary) -2.0% m/m (vs. expected -1.4%). Japan Retail Sales (July) +6.8% y/y (vs. expected +5.4%). Japan's housing starts declined by 6.7 percent year-on-year in July 2023, worse than market forecas...

2023-08-31 02:39:00 ET Summary A further slowdown in the service sector recovery coupled with a slight moderation in manufacturing contraction does not amount to any meaningful improvement to the overall economic backdrop. Total orders have improved to hit the 50 threshold signall...

2023-08-31 01:40:56 ET The official NBS Manufacturing PMI rose to 49.7 in August of 2023 from 49.3 in July, exceeding market forecasts of 49.4. The latest result was the softest drop in factory activity since an expansion in March, amid various stimulus measures from Beijing to revive a...

2023-08-30 03:07:49 ET Japan +0.33% . Japan August consumer confidence index 36.2 vs 37.1 prior. China +0.10%. Hong Kong +0.38% . India +0.53% . Australia +1.21% .Australian July inflation data 4.9% y/y (vs. 5.2% expected). Australian data - Q2 C...

2023-08-29 12:50:00 ET Summary Fed Chair Jay Powell delivered a largely hawkish message. But I believe those comments were mainly for show - I don’t expect the Fed to hike rates again. ECB President Christine Lagarde said that central bankers need to talk about forecasts in...