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Stocks Fall in China on Rate Worries: China-focused ETFs Lower

By Market News Video Staff, Friday, November 12, 9:11 AM ET

Stocks in China fell sharply today to their lowest levels in more than a year.

The plunge followed concerns that China’s central bank may hike interest rates to stem inflation.

Data yesterday showed inflation was surging in the country, prompting the speculation that the People’s Bank of China could raise rates for the second time in as many months.

Stocks in Shanghai were down more than 5%.

The iShares FTSE/Xinhua China 25 Index Fund (AMEX:FXI) is trading down 2.15% today in premarket.

Another ETF to watch is the SPDR S&P China ETF (AMEX:GXC).

Both funds invest stock listed in China, however some of the top holdings are also listed in the U.S.

China Mobile (NYSE:CHL), at 6.66% of the SPDR S&P China ETF is listed under “CHL” one the NYSE.

CNOOC (NYSE:CEO) is 4.31% of GXC.

Baidu.com (NASDAQ:BIDU), 3.84% of the portfolio is trading down 0.75% in premarket in New York.

Find the right mix of model portfolios today at PortfolioChannel.com


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This Article's Word Cloud:   AMEX   Another   BIDU   Bank   Both   CNOOC   China   Index   Mobile   NYSE   People   SPDR   Shanghai   Stocks   York   also   bank   central   concerns   could   country   down   followed   however   inflation   interest   invest   levels   listed   many   months   more   plunge   portfolio   premarket   prompting   raise   rates   second   sharply   showed   speculation   than   that   time   today   trading   under   watch   year
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