This article was originally published on ETFTrends.com.
China country-specific exchange traded funds led the charge Monday as trade talks resumed with the United States.
On Monday, among the best performing non-leveraged ETFs, the Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) increased 3.2%, KraneShares Bosera MSCI China A ETF (KBA) advanced 2.6% and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) gained 2.6%.
White House senior counselor Kellyanne Conway on Monday expressed confidence in a possible deal, telling Fox News in an interview, “It looks that way, absolutely,” when asked if the two countries were closer to a trade deal, Reuters reports.
The U.S. is expected press China on longstanding demands that it reform how it treats American companies’ intellectual property as a key component in a trade deal in exchange for keeping tariffs low on Chinese imports.
The latest talks started off with working level discussions on Monday before high-level discussions later in the week. Sentiment eased after negotiations in Washington last month ended without a deal and the top U.S. negotiator announced more needed to be done.
“We, of course, hope, and the people of the world want to see, a good result,” Chinese Foreign Ministry spokeswoman Hua Chunying said at a news briefing in Beijing.
The latest U.S.-China advances in trade talks come in ahead of a looming March 1 deadline set for signing a trade pact. If the two countries fail to come to an accord by then, the U.S. has warned that additional tariffs on Chinese imports will be executed.
“Markets are taking a wait-and-see approach today,” Randy Frederick, vice president of trading and derivatives for Charles Schwab, told Reuters. “Everyone would like to see a resolution on both trade and the government shutdown, but right now there aren’t many new signs of progress in either.”
For more information on the Chinese markets, visit our China category.
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