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Abhoy Sarkar's Avatar
published in Blogs
Dec 31, 2019

China PMI signals expansion in December manufacturing

China’s manufacturing activity expanded in December, as indicated by the nation’s official Purchasing Managers’ Index (PMI) whose reading came in slightly higher than expected.

China PMI for December was 50.2. Any reading above 50 suggests an expansion in activity. Economists polled by Reuters expected the official December manufacturing PMI to come in at 50.1.

Production accelerated and demand increased in December, according to the National Bureau of Statistics.

December was the second straight month of expansion for the index.

On December 13, the U.S. and China announced that they had reached a phase one trade deal, that includes (among several aspects) holding off and reduction of  some U.S.tariffs, increased purchases by China of U.S. agricultural goods, and policies related to intellectual property and technology.

Related Ticker: FXI

FXI in downward trend: 10-day moving average moved below 50-day moving average on May 19, 2023

The 10-day moving average for FXI crossed bearishly below the 50-day moving average on May 19, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

FXI moved below its 50-day moving average on May 17, 2023 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FXI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for FXI entered a downward trend on May 04, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on June 07, 2023. You may want to consider a long position or call options on FXI as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for FXI just turned positive on June 06, 2023. Looking at past instances where FXI's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FXI advanced for three days, in of 272 cases, the price rose further within the following month. The odds of a continued upward trend are .

FXI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks to track the investment results of the FTSE China 50 Index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index designed to measure the performance of the largest companies in the Chinese equity market that trade on the Stock Exchange of Hong Kong and are available to international investors. The fund is non-diversified.
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

Category PacificAsiaexJapanStk

Profile
Fundamentals
Details
Category
China Region
Address
iShares Trust400 Howard StreetSan Francisco
Phone
1-800-474-2737
Web
www.ishares.com
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FXI and

Correlation & Price change

A.I.dvisor indicates that over the last year, FXI has been closely correlated with MCHI. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if FXI jumps, then MCHI could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To FXI
1D Price
Change %
FXI100%
-1.21%
MCHI - FXI
99%
Closely correlated
-1.19%
GXC - FXI
98%
Closely correlated
-0.92%
CXSE - FXI
97%
Closely correlated
-1.43%
KWEB - FXI
96%
Closely correlated
-1.08%
CHIQ - FXI
95%
Closely correlated
-1.15%
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