February 07, 2008 at 1:00 am by Tom Lydon
Chinese New Year is celebrated today, as the first day of the first lunar month has begun, and exchange traded funds (ETFs) are already reeling. Copper dipped in early afternoon trade while other base metals lost momentum, as buying interest was low in response to the Chinese Lunar New Year holiday earlier on this week.
The previous week saw a frenzied activity in base metals, however, the start of the Chinese New Year break has turned the markets somewhat quiet, reports Thomson Financial. China-focused ETFs have seen rough times so far this year after a stellar 2007.
The celebration will not be over until the 15th, so sit tight, and check out these China-focused ETFs. As always, we suggest waiting until a fund is above its 200-day moving average before considering a buy:
- PowerShares Golden Dragon Halter (PGJ)
- iShares FTSE/Xinhua China 25 Index (FXI)
- ProShares Ultrashort FTSE/Xinhua China 25 (FXP)
Tags: Asia, China, Copper, Emerging Markets, FXI, Metals, PGJ
Share: 
Digg | 
Bookmark at Del.icio.us | 
Subscribe to our RSS Feed
February 7th, 2008 at 7:05 am
Thanks for these enjoyable articles. I had a general question about ETFs. FXI price reflects the total NAV of the sectors/stocks it holds and these are all in China. I notice the price fluctuates in the US even after the Chinese stock exchange has closed for the day. Is it possible for the ETF price to change on its own buy/sell patterns, independent of the sector/stock NAV?
Thanks,
Joe