China ETFs on pace for best day ever after government hints at market stimulus

China-focused exchange-traded funds were on pace for their best day on record after a state-owned newspaper urged investors to purchase equities, saying, according to a translation, that a"healthy bull market" is good for the world's second-largest economy, attempting to shake off the economic effects of the COVID-19 pandemic. The largest China ETF, the iShares MSCI China ETF [S: MCHI], was up 6.8% at midday, its best performance in its nine-year history.

1% higher, and the Xtrackers Harvest CSI 300 China fund ASHR, +10.98% soared 10.6%, also an all-time high, back to 2013. Some funds that focus on particular sectors of the economy did even better: the Global X MSCI China Information Technology CHIK, +11.75% was nearly 12% higher. In the year to date, the iShares fund and the SPDR fund have both gained a little less than 14%, while the Xtrackers product is up 16.4%, compared to a 2% decline for the S&P 500 SPX, +1.21%.

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Stocks rally, yuan surges as investors bet on China revivalGlobal stock markets rallied and China's yuan posted its biggest gain since December on Monday as investors bet the Chinese economy would boost global growth even as surging coronavirus cases delayed business re-openings across the United States. dumb investments .
Fuente: Reuters - 🏆 2. / 97 Leer más »