Shares of U.S.-traded Chinese stocks on Friday posted their best week since at least March, with one popular exchange-traded fund clinching its biggest weekly advance since 2011, as shared recovered from last week’s punishing selloff.
See: China stocks including Alibaba, Nio rally as Chinese officials say they’ll boost vaccines for the elderly Other popular China-focused ETFs that saw their biggest weekly gains since March included the iShares China Large-Cap ETF FXI , the Invesco Golden Dragon China ETF PGJ and the Xtrackers Harvest CSI ASHR .U.S.-traded Chinese stocks also were up sharply this week, with shares of Nio Inc. NIO rising 8.6% Friday to bring their gain for the week to 29.1%, nearly surpassing its gain from the week ended March 18.
This week’s rebound was spurred by expectations that Beijing might appreciably loosen its COVID-19-inspired restrictions after authorities eliminated some testing requirements, but Chinese stocks also benefited from expectations that the Federal Reserve might only hike interest rates by 50 basis points in December, said Thomas Matthews, senior markets economist at Capital Economics.
I don't buy Chinese stocks or ETFs. See: Never!