Dennis Gartman Is A Buyer Of iShares FTSE/Xinhua China 25 Index (ETF)

Speaking on CNBC's Fast Money, Dennis Gartman shared his thoughts with the viewers about Chinese economy and recent moves by The People's Bank of China. He thinks that China is not slowing down and he is encouraged by interest rates cuts and cuts in reserve requirements. Gartman explained that the decision is a response to a too weak Japanese yen and he is surprised by lack of response by the market. China is concerned that it could lose market share to Japan. Gartman is bullish on Chinese stocks, but instead of picking individual names, he would buy iShares FTSE/Xinhua China 25 Index (ETF) FXI.