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From Seeking Alpha Monday, Nov 4 8:07 AM Howard Marks is a buyer in China "Investors have lost all confidence in China," says Howard Marks (OAK), who is scooping up what he calls "tremendous bargains" in common stocks there. "We are investing in Chinese equities along with emerging markets."He notes the Shanghai Composite's price-to-book ratio is about half of 2010's level and the P/E multiple is 42% lower. "The swings of the pendulum were excessive."As for the U.S., stock valuations have moved from cheap to fair. "It's not overpriced in the context of history."China equity ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, TAO, CHIQ, CHIX, YANG, PEK, MCHI, CQQQ, XPP, QQQC, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, TCHI, KWEB, FCA, CHNA. Related to Ted's Link also from Seeking Alpha ASHR China A-shares ETF set to launch Deutsche on Wednesday is launching what would be U.S. ETF investors' first shot at owning so-called Chinese A shares - stocks trading in Shanghai and Shenzhen. The db X-trackers Harvest CSI 300 China A-Shares Fund (ASHR) will track the CSI 300 Index.Invesco last month launched the PowerShares China A-Share portfolio (CHNA), but until the company gets approval to own A-shares, it's trying to replicate the action with futures and other ETFs. There's also the Market Vectors China ETF (PEK) which attempts to approximate Shanghai and Shenzhen with swaps linked to those stocks, but it's failed to gain much traction with just $34M in AUM after three years in business.Then there's a closed-end fund, the Morgan Stanley China A Share Fund (CAF), currently trading at a 8.2% discount to NAV, and on the market since 2006.China A-shares is "the last big market access product," says Deutsche exec Martin Kremenstein, drawing a comparison to 2004's launch of the SPDR Gold Trust (GLD). MSCI estimates opening A shares completely to foreign ownership would boost China's weight in the MSCI Emerging Markets Index (EEM) to 30% from 18%.Related ETFs: FXI, GXC, PGJ, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, YANG, PEK, MCHI, XPP, CQQQ, QQQC, YAO, CHXX, CHII, CHXF, FXCH, ECNS, CHIE, YXI, CHIM, KFYP, TCHI, KWEB, FCA, CHNA.
Update;November 8,2013 KraneShares Bosera MSCI China A Share ETF (NYSE: KBA) KraneShares and Bosera are partnering to deliver the KraneShares Bosera MSCI China A Share ETF providing access to the China A Share equity market which has never before been available to US investors through an exchange traded fund structure.
Key benefits of the A Share ETF:
Physical China A Share exposure Co-managed by Bosera Asset Management Tracking the MSCI China A Index Trades on the NYSE Unique investment exposure for US investors to access the Shanghai and Shenzhen Stock Exchanges Exposure to the remaining 57% of listed Chinese company market cap currently not available to US investors Exposure to Chinese large, mid and small cap companies Provides daily liquidity by leveraging the Chinese government's RQFII program
Comments
8:07 AM
Howard Marks is a buyer in China
"Investors have lost all confidence in China," says Howard Marks (OAK), who is scooping up what he calls "tremendous bargains" in common stocks there. "We are investing in Chinese equities along with emerging markets."He notes the Shanghai Composite's price-to-book ratio is about half of 2010's level and the P/E multiple is 42% lower. "The swings of the pendulum were excessive."As for the U.S., stock valuations have moved from cheap to fair. "It's not overpriced in the context of history."China equity ETFs: FXI, GXC, PGJ, FXP, HAO, YINN, TAO, CHIQ, CHIX, YANG, PEK, MCHI, CQQQ, XPP, QQQC, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, TCHI, KWEB, FCA, CHNA.
Related to Ted's Link also from Seeking Alpha
ASHR
China A-shares ETF set to launch
Deutsche on Wednesday is launching what would be U.S. ETF investors' first shot at owning so-called Chinese A shares - stocks trading in Shanghai and Shenzhen. The db X-trackers Harvest CSI 300 China A-Shares Fund (ASHR) will track the CSI 300 Index.Invesco last month launched the PowerShares China A-Share portfolio (CHNA), but until the company gets approval to own A-shares, it's trying to replicate the action with futures and other ETFs. There's also the Market Vectors China ETF (PEK) which attempts to approximate Shanghai and Shenzhen with swaps linked to those stocks, but it's failed to gain much traction with just $34M in AUM after three years in business.Then there's a closed-end fund, the Morgan Stanley China A Share Fund (CAF), currently trading at a 8.2% discount to NAV, and on the market since 2006.China A-shares is "the last big market access product," says Deutsche exec Martin Kremenstein, drawing a comparison to 2004's launch of the SPDR Gold Trust (GLD). MSCI estimates opening A shares completely to foreign ownership would boost China's weight in the MSCI Emerging Markets Index (EEM) to 30% from 18%.Related ETFs: FXI, GXC, PGJ, FXP, HAO, CYB, YINN, CNY, TAO, CHIQ, CHIX, YANG, PEK, MCHI, XPP, CQQQ, QQQC, YAO, CHXX, CHII, CHXF, FXCH, ECNS, CHIE, YXI, CHIM, KFYP, TCHI, KWEB, FCA, CHNA.
Update;November 8,2013
KraneShares Bosera MSCI China A Share ETF (NYSE: KBA)
KraneShares and Bosera are partnering to deliver the KraneShares Bosera MSCI China A Share ETF providing access to the China A Share equity market which has never before been available to US investors through an exchange traded fund structure.
Key benefits of the A Share ETF:
Physical China A Share exposure
Co-managed by Bosera Asset Management
Tracking the MSCI China A Index
Trades on the NYSE
Unique investment exposure for US investors to access the Shanghai and Shenzhen Stock Exchanges
Exposure to the remaining 57% of listed Chinese company market cap currently not available to US investors
Exposure to Chinese large, mid and small cap companies
Provides daily liquidity by leveraging the Chinese government's RQFII program