China
continues down path of market rates
An arm of the PBOC will
begin calculating and publishing a "loan prime rate" each day based
on rates charged to the best clients by nine major lenders (one can imagine the
prime rate manipulation scandal headlines a decade from now).
Today's rate printed at 5.71% vs. the PBOC-set
benchmark of 6%. "The new rate can be a very useful indicator for
economists and analysts to measure credit demand and supply on the ground - a
good indicator that did not exist before," says Xu Gao, chief economist at
Everbright. He quickly adds he needs more time to determine if these are truly
market rates, noting the yuan fixing is supposed to be based on bank quotes,
"but everyone knows" the PBOC is
pulling the levers.
China
financial ETF: CHIX.
Broad China ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI,
XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, CNY,
CYB, FXCH.
Ticker Company Change
CSUN China
Sunergy Co. Ltd. 8.93%
EDU New Oriental
Education & Technology Group 5.44%
VIPS Vipshop
Holdings Limited 5.30%
BIDU Baidu, Inc. 3.59%
YY YY Inc. 2.89%
XRS TAL Education
Group 2.44%
BITA Bitauto Holdings
Limited 2.11%
JKS JinkoSolar
Holding Co., Ltd. 1.97%
SINA Sina Corp. 1.69%
NTES NetEase.com, Inc. 1.59%
JASO JA Solar
Holdings Co., Ltd. 1.18%
YOKU Youku Inc. 1.17%
HMIN Home Inns &
Hotels Management Inc. 1.12%
QIHU Qihoo 360
Technology Co. Ltd 0.90%
TSL Trina Solar
Limited 0.87%
EJ E-House (China)
Holdings Limited 0.85%
DANG E-Commerce China
Dangdang Inc. 0.51%
HPJ Highpower
International, Inc. 0.44%
RENN Renren Inc. 0.26%
YGE Yingli Green
Energy Holding Co. Ltd. 0.15%
CTRP Ctrip.com
International Ltd. 0.07%
SFUN SouFun Holdings Ltd. 0.00%
ISS Isoftstone
Holdings Limited 0.00%
PACT Pactera Technology International Ltd. 0.00%
SPRD Spreadtrum
Communications Inc. -0.16%
GA Giant
Interactive Group, Inc. -0.32%
LITB LightInTheBox
Holding Co., Ltd. -0.35%
SOHU Sohu.com Inc. -0.47%
VNET 21Vianet Group,
Inc. -0.64%
YONG Yongye
International, Inc. -0.92%
SOL ReneSola Ltd. -0.98%
XIN Xinyuan Real
Estate Co., Ltd. -1.84%
GAME Shanda Games
Limited -2.41%
KNDI Kandi
Technologies, Corp -2.93%
PWRD Perfect World Co.,
Ltd. -3.66%
CXDC China XD Plastics
Company Ltd. -3.96%
FENG Phoenix
New Media Limited -4.19%
BORN China
New Borun Corporation -4.57%
CCIH ChinaCache
International Holdings Ltd. -4.60%
KUTV Ku6 Media Co., Ltd. -4.91%
HSOL Hanwha SolarOne Co., Ltd -5.04%
NOAH Noah Holdings
Limited -5.24%
MY China Ming Yang
Wind Power Group Limited -7.21%
MOBI Sky-mobi Limited -7.41%
VISN VisionChina Media Inc. -10.51%
NQ NetQin Mobile
Inc. -50.74%
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