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VCSC Daily - ETFs lift market mood

Our view: One word ETFs. Early Thursday morning, we came across news that the State Securities Commission was drafting a new Circular for the creation of ETFs, which we quickly brushed aside thinking it would still be several months away from actual implementation. But as the day progressed, the market caught wind that the iShares MSCI Frontier 100 Index Fund was just introduced the same day and ready for trade under the ticker “FM” on the NYSE Arca.