AllianzGI China Equity A
Why Has the SSE Composite Index Risen?
The Shanghai Stock Exchange (or SSE) Composite Index rose from May 25 to June 1, 2016, and closed at 2,913.51 on June 1.
Company & Industry Overviews
China’s New Yuan Loans and Aggregate Financing Plummeted in April
China’s aggregate financing dropped to 751.0 billion yuan ($115.2 billion) in April from 2.3 trillion yuan ($361 billion) in March.
China’s New Loan and Aggregate Financing Plans: Are They Working?
New loans issued by Chinese banks rose to 1.4 trillion yuan ($211.2 billion) up from 726.6 billion yuan ($112.0 billion) in February 2016.
China’s New Yuan Loans, Aggregate Financing Dropped in February
China’s aggregate financing also fell sharply from 3417.3 billion yuan ($525 billion) in January to 780.2 billion yuan ($120 billion) in February.
Yuan Maintained 5th Position in Global Currency Payments
The yuan accounted for 2.5% of global payments in January, slightly up from 2.3% in December 2015.
Why China’s Official Non-Manufacturing PMI Was Down in February
China’s official non-manufacturing purchasing managers’ index (or PMI) is an economic indicator that provides a snapshot of the non-manufacturing sector of an economy.
China’s Yuan Share Rose in Global Currency Payments
According to the latest SWIFT RMB Tracker, the yuan—also known as the “renminbi”—accounted for 2.3% of the global payments in November 2015.
China’s Official Manufacturing PMI Nudged Up in December
China’s official manufacturing PMI reading for December 2015 was up slightly and came in at 49.7. However, it was still in contraction mode compared to 49.6 in November.
What’s in Store for the Chinese Economy in 2016?
China’s exports and imports are down due to weak demand globally and falling commodity prices.
How the SSE Composite Index Performed Last Week
The Shanghai Stock Exchange (or SSE) Composite Index was dragged down 2.4% from December 22 to December 29 and ended at 3,563.7 points on December 29, 2015.
Is the Chinese Economy Really Stabilizing?
China’s currency is flowing out of the economy. With the rate hike looming in the US, Chinese investors are parking their funds in dollar-denominated assets.
China’s New Yuan Loans and Aggregate Financing Rise in November
The rise in new yuan loans doesn’t directly impact the overall performance of mutual funds. But with the rise in credit flow in the economy, mutual funds with large exposures to financials benefit.
Company & Industry Overviews
Further Weakness: What’s in Store for the Chinese Economy?
In October, China’s exports (in US dollar terms) fell 6.9% year-over-year (or YoY) to $192.4 billion while imports fell 18.8% year-over-year to $130.8 billion.
Why the SSE Composite Index Fell Last Week
The SSE Composite Index fell 5.3% week-over-week and ended at 3,436.3 points on November 27, 2015, after several large broking houses came under investigation.
Why Did the SSE Composite Index Fall?
The SSE (Shanghai Stock Exchange) Composite Index fell by 0.4% from November 12 to November 19. It ended at 3,617.06 points on November 19, 2015.
Interpreting the SSE Composite Index’s Performance as of November 4
On November 4, 2015, the SSE (Shanghai Stock Exchange) Composite Index was up by 2.5% from October 28, ending the day at 3,459.64 points.
Performance of SSE Composite Index from October 21 to October 28
The SSE Composite Index includes all listed stocks at the Shanghai and Shenzhen Stock Exchanges. Here, A-shares are shares denominated in renminbi.
Portfolio Composition of China-focused Mutual Funds: ALQAX and RSCHX
The AllianzGI China Equity Fund Class A (ALQAX) and the RS China Fund Class A (RSCHX) benchmark their performance to the MSCI China Index.
Assessing the Performances of China-Focused Mutual Funds in 3Q15
In the quarter that ended on September 30, 2015, the returns of all four of our selected China-focused mutual funds were negative.