Emerging Markets (EEM) Lower as China Stocks (FXI) Slump
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iShares MSCI Emerging Markets Indx ETF (NYSE: EEM) closed lower by 3.71 percent yesterday after a flash PMI data in China showed manufacturing was weakening. iShares FTSE/Xinhua China 25 Index ETF (NYSE: FXI) was also lower, shedding 4.27 percent. The biggest losses were seen in the energy space.
The Hang Seng Index is currently trading at 9.1x forward 12-month earnings, the lowest since September 2011 and 12 percent below the year's high at 10.4 times seen in March, according to data compiled by Bloomberg.
Investors are hoping China's central bank will make good on what they view as signals of further stimulus by the government there. A Goldman Sachs analyst recently said policy easing signals were "explicit".
The Hang Seng Index is currently trading at 9.1x forward 12-month earnings, the lowest since September 2011 and 12 percent below the year's high at 10.4 times seen in March, according to data compiled by Bloomberg.
Investors are hoping China's central bank will make good on what they view as signals of further stimulus by the government there. A Goldman Sachs analyst recently said policy easing signals were "explicit".
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