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Betting on China’s Stimulus Plan
The Chinese government is hoping that a $586 billion stimulus plan will be able to kick-start its economy.
Despite the International Monetary Fund forecasting China’s GDP growth to finish in a healthy range of 8% to 10% in both 2008 and 2009, the Shanghai Composite Index has been punished along with the rest of major global exchanges this year. The index has lost nearly two-thirds of its value since the beginning of the year.
The iShares FTSE/Xinhua China 25 Index (FXI), an ETF that tracks 25 of China’s largest companies, has been thrown for a 54.4% loss year-to-date. The fund has…
12Nov2008 | Oxbury Research | Comments Off | Continued
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