China-focused ETFs drop after country announced growth target near 'low end' of market expectations

Exchange-traded funds that buy Chinese stocks were trading down Monday after China announced at its annual legislative session over the weekend a growth target near the low end of market expectations.

China... Exchange-traded funds that buy Chinese stocks were trading down Monday after China announced at its annual legislative session over the weekend a growth target near the low end of market expectations. China announced at the start of its annual legislative session on Sunday that it’s targeting growth of around 5% this year, according to the Associated Press.

John Higgins, chief markets economist at Capital Economics, wrote in a note Monday that “even if economic growth in China this year fails to eclipse the modest 5% target announced at the National People’s Congress on Sunday, we expect its stock market to continue to recover and unwind more of the substantial underperformance it experienced between the spring of 2021 and autumn of 2022.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Accuses the U.S. of Suppressing Chinese Tech CompaniesChina pushed back against the U.S. government's technology bans and accused the U.S. of 'ideological bias.' The same as China does. The true suppression of the Chinese companies is China itself. Specifically, Xi.
Source: Gizmodo - 🏆 556. / 51 Read more »

Binance Issued BUSD Market Cap Loses 45% Amid FUD Around Exchange$BUSD still taking hits as Binance remains under heavy pressure from regulators 4
Source: Utoday_en - 🏆 295. / 63 Read more »