BEIJIN: China’s inflation rate rose to 1.6% in December 2015 from a year prior. It was 1.5% in November 2015. The inflation rate is significantly below the People’s Bank of China’s inflation target of 4.0%.
As a result, the iShares China Large-Cap ETF (FXI) and the Direxion Daily FTSE China Bull 3X ETF (YINN) fell by 11.8% and 28.5%, respectively, over the month leading up to January 8.
Alibaba Group Holding (BABA), PetroChina (PTR), E-commerce China Dangdang (DANG), and Agria (GRO) fell by 15.1%, 12.9%, 7.4%, and 7.8% over the month leading up to January 8.