ETFs that buy Chinese stocks mired with losses after ‘measly’ rate cut in disappointing stimulus

Exchange-traded funds focused on equities in China have seen double-digit percentage drops over the past six months, including the iShares MSCI China ETF MCHI, KraneShares CSI China Internet ETF KWEB, Invesco China Technology ETF CQQQ, Xtrackers Harvest CSI 300 China A-Shares ETF ASHR and Rayliant Quantamental China Equity ETF RAYC, according to FactSet data.

The People’s Bank of China announced on Monday that it lowered its one-year loan prime rate by 10 basis points to 3.45%, disappointing investors with the scope of its stimulus, according to a note from Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management. The iShares MSCI China ETF, Invesco China Technology ETF, Xtrackers Harvest CSI 300 China A-Shares ETF and Rayliant Quantamental China Equity ETF were trading down Monday afternoon, with losses ranging from 0.1% to 0.6%.

China-focused ETFs have tanked in August, with the KraneShares CSI China Internet ETF dropping around 15.6% so far this month.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Asian Stock Market: Trades mixed following PBoC rate cut, Chinese stimulus support eyedThe week began on a tepid note for Asian stock markets as China slashed its Loan Prime Rate (LPR) for one year by a smaller margin than anticipated w
Source: FXStreetNews - 🏆 14. / 72 Read more »

Will Europe Restrict Chinese Investment Into The EU?The Chinese economy is in trouble. A credit crisis - led by the real estate sector looks likely and now the US government has slapped restrictions on the types of Chinese companies and sectors that US investors may invest in. Now its Europe’s turn to potentially do the same.
Source: Forbes - 🏆 394. / 53 Read more »