On Tuesday, Shares of SouFun Holdings Ltd. (NYSE:SFUN), lost -7.38% to $6.90, following decision by the Chinese government to devalue the yuan, causing a selloff in U.S. traded China-based stocks.
Following weak economic data released over the weekend, China’s central bank devalued the yuan by 2%, its lowest level in close to three years, Reuters reports.
China’s exports fell by 8.3% in July. Exports were influenced by weak demand in Europe, the U.S. and Japan.
“It’s another step by the People’s Bank to support the economy and stabilize the economy, which continues to weaken. A slowdown in an economy of that size causes a lot of ripples,” Craig Bishop, lead strategist of U.S. fixed-income strategies at RBC Wealth Administration told The Wall Street Journal.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Shares of The Bank of New York Mellon Corporation (NYSE:BK), declined -1.30% to $44.67, during its last trading session.
The median return of the BNY Mellon U.S. Master Trust Universe, a fund-level tracking service, was essentially flat for the second quarter of 2015, down a scant 0.02 percent. The one-year return of +2.95%, however, was well below the five-year annualized return of +10.36%.
With a market value of more than $2.3 trillion and an average plan size of $3.6 billion, the BNY Mellon U.S. Master Trust Universe is a fund-level tracking service that can be used to make peer comparisons of both performance and asset allocation results. The Universe comprises of 623 corporate, foundation, endowment, public, Taft-Hartley, and health care plans.
Q2 Highlights
- 48% of plans in the BNY Mellon Master Trust universe returned positive results during the quarter;
- Endowments recorded the highest median return (+0.58%), followed by Taft Hartley plans (+0.30%);
- S. equities posted a quarterly median return of +0.25%, as compared to the Russell 3000 Index return of +0.14%. Non-U.S. equities saw a median return of +1.12%, ahead the Russell Developed ex U.S. Large Cap Index result of +0.80%. U.S. fixed income had a median return of -1.36%, as compared to the Barclays Capital U.S. Aggregate Bond Index return of -1.68%. Non-U.S. fixed income had a median return of -0.69%, as compared to the Citigroup Non-U.S. World Government Bond Index return of -1.54%. Real estate had a median return of +3.18%, as compared to the NCREIF Property Index result of +3.14%.
The average asset allocation in the BNY Mellon U.S. Master Trust Universe for the second quarter was: U.S. equity 26%, U.S. fixed income 25%, non-U.S. equity 17%, non-U.S. fixed income 2%, real estate 4%, cash 1%, and alternatives/other 25%.
The Bank of New York Mellon Corporation, an investment company, provides financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. It operates through two segments, Investment Administration and Investment Services.
Finally, Lattice Semiconductor Corporation (NASDAQ:LSCC), ended its last trade with -3.49% loss, and closed at $4.15.
Lattice Semiconductor Corporation declared that it is planned to present at Jefferies Semiconductors, Hardware & Communications Infrastructure Summit taking place on Wednesday, August 26 at the Four Seasons in Chicago. During the conference, Joe Bedewi, Corporate Vice President and Chief Financial Officer, and Glen Hawk, Corporate Vice President and Chief Marketing Officer, will be presenting.
Lattice Semiconductor Corporation designs, develops, and markets programmable logic products and related software in Asia, Europe, and the Americas. It offers products based on field programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs) architectures.
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