|Bid||46.97 x 38500|
|Ask||0.00 x 29200|
|Day's Range||46.81 - 47.06|
|52 Week Range||37.06 - 54.53|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-2.11%|
|Beta (5Y Monthly)||0.70|
|Expense Ratio (net)||0.74%|
The world's second-largest economy returned to growth in the second quarter of the year, according to official data released today by China's National Bureau of Statistics. It expanded 3.2% year over year, beating analysts' forecasts of 2.5% growth and avoiding a recession, after strict lockdown measures were lifted. The unemployment rate in urban areas has declined 0.2 percentage points to 5.7% in June from May. While industrial output grew 4.8% last month, the service sector and investment continued to decline, but at slower rates.
After various news outlets encouraged investors to buy equities this week, indices roared higher and yield on government debt surged the most since January. The iShares MSCI China ETF (MCHI) closed 7.3% higher, its best performance in nine years.
Chinese stocks added to recent gains Monday as investors bet on a speedy economic recovery. Explore trading ideas using China-focused ETFs.