The biggest Chinese exchange-traded fund in the US is losing money faster than any other country-focused ETF, even as the lowest valuations since 2008 convince brokerages in the Asian nation that it\'s time to buy. Investors pulled a net $961.2 million from the iShares FTSE China 25 Index Fund this year, the most among 140 single-country ETFs that trade on US markets, according to data compiled by New York-based research firm XTF Inc. The outflows coincided with a decline in the Shanghai Composite Index\'s price-earnings ratio using estimates for the next year to 11.6, a valuation last seen during the financial crisis in November 2008. Valuations in the Shanghai Composite slumped after the country\'s central bank raised lender reserve requirements 12 times since the start of 2010.