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Find a good site for ETF facts, may do some sync trading for ETFs based on premium and discount.
http://www.etfconnect.com/select/fundpages/global.asp?MFID=168692
FXI, as of last Friday(9/19/08), NAV 36.89, price 39.06, premium=2.17/36.89=7.32%
Since China market was up 7% on Monday and FXI down about 2.6%, the premium should be wiped out and at discount 2.5%
CAF, as of last Friday, NAV 27.65, price=31.33, premium=13.3%
Adjust to Monday's China market up and today's 3% drop in CAF, the premium will be about 3%
There's about 5% gap in premium/discount in the 2 ETF, historically, FXI lead by big margin in terms of premium, so this reverse may mean a good sync trading candidate. Another reason is that in China, policy care large state owned companies more than small private companies, thus I believe at this tough time, FXI should out perform CAF in the near future. I'll see.
http://www.etfconnect.com/select/fundpages/global.asp?MFID=168692
FXI, as of last Friday(9/19/08), NAV 36.89, price 39.06, premium=2.17/36.89=7.32%
Since China market was up 7% on Monday and FXI down about 2.6%, the premium should be wiped out and at discount 2.5%
CAF, as of last Friday, NAV 27.65, price=31.33, premium=13.3%
Adjust to Monday's China market up and today's 3% drop in CAF, the premium will be about 3%
There's about 5% gap in premium/discount in the 2 ETF, historically, FXI lead by big margin in terms of premium, so this reverse may mean a good sync trading candidate. Another reason is that in China, policy care large state owned companies more than small private companies, thus I believe at this tough time, FXI should out perform CAF in the near future. I'll see.
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