|Bid||74.39 x 4000|
|Ask||74.43 x 3000|
|Day's Range||73.80 - 74.68|
|52 Week Range||50.00 - 76.28|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||18.62%|
|Beta (5Y Monthly)||1.01|
|Expense Ratio (net)||0.59%|
Breaks beyond key resistance levels have active traders looking to these ETFs for exposure to countries such as China and South Korea.
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.
Shares of Sina Corp. shot up 10.4% in premarket trading Monday, after the China-based online media company disclosed that it received a buyout bid from New Wave MMXV Ltd., in a deal that would value Sina at about $2.68 billion. Sina said New Wave proposed to buy the shares it didn't already own for $41 each, which is 11.8% above Thursday's closing price of $36.67. New Wave is a company controlled by Charles Chao, Sina's chairman and chief executive. Sina said it has formed a special committee to evaluate the proposed buyout. The stock has lost 8.2% year to date through Thursday, while the iShares MCHI China ETF has gained 6.5% and the S&P 500 has slipped 3.1%.
BlueCity Holdings Ltd. set terms for its initial public offering, as the China-based online LGBTQ community looks to raise up to $90.1 million. The company is offering 5.3 million American depositary shares (ADS), representing 2.65 million Class A ordinary shares, which are expected to price between $15.00 and $17.00. The stock is expected to list on the Nasdaq exchange under the ticker symbol "BLCT." The lead underwriters of the IPO are AMTD, Loop Capital Markets, Tiger Brokers, Prime Number Capital and R.F. Lafferty & Co. The company recorded a net loss of RMB7.6 million ($1.08 million) on revenue of RMB207.5 million ($29.3 million) for the three months ended March 31, after a loss of RMB26.4 million on revenue of RMB145.3 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 60.4% over the past three months, the iShares MSCI China ETF has climbed 19.5% and the S&P 500 has advanced 26.2%.
China-based e-commerce platform company Pinduoduo Inc. named on Wednesday Lei Chen as its chief executive, effective immediately. Chen, a founding member of the company, was formerly chief technology officer since 2016. Former CEO and founder Zheng Huang will remain as chairman of the board of directors. "The management changes will place us on an even stronger footing to strive for the next level," Zheng Huang said. Pinduoduo's stock rose 0.7% in premarket trading. It has more than doubled (up 127%) year to date through Tuesday, while the iShares MSCI China ETF has gained 2.1% and the S&P 500 has slipped 4.0%.
Shares of Wins Finance Holdings Inc. ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can "cure" its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that because of the resignation of Shihai Wang from the company's audit committee and board of directors, the company was no longer in compliance with the Nasdaq's audit committee requirement for listing on the exchange. The company also said it appointed Jiyi Li to its audit committee and board. Wins said it believes the appointment of Jiyi Li "will cure this noncompliance." Wins's shares caused a stir earlier this month, as they rocketed nearly 7-fold (up 567%) on heavy volume in two days to June 11, with no news reported, prompting Wins to issue a statement saying it was "not aware of any material corporate developments that could account for this unusual trading activity." Short seller Hindenburg Research followed by saying Wins appears to be embroiled in "an obvious pump and dump," as the rally came after the Chinese courts froze assets on an operating subsidiary, and after its parent entity had been declared insolvent. Wins's stock has nearly quadrupled (up 259%) year to date, while the iShares MSCI China ETF has gained 2.8% and the S&P 500 has lost 5.8%.
Exchange-traded funds with exposure to India fell sharply Tuesday afternoon after the Indian army announced three of its soldiers had died in a confrontation with Chinese troops along the disputed Himalayan border. The iShares MSCI India ETF fell 1.1%, the WisdomTree India Earnings Fund was down 1.3%, and the Invesco India ETF was down just over 1%. In contrast, the biggest China-facing ETFs were solidly higher. The iShares MSCI China ETF rose 1.5%, the iShares China Large-Cap ETF rose 1.2%, and the SPDR S&P China ETF jumped 1.6%. The fatalities marked the first deadly confrontation between the two Asian giants since 1975.
What’s bad news for investors in U.S.-listed China-based stocks is good news for short sellers, who made back almost everything lost this year after the Senate approved the Holding Foreign Companies Accountable Act.
Strained relations between China and the U.S. stir up new risks in the stock market as both counties try to navigate through the pandemic economic collapse.
Here is a look at ETFs that currently offer attractive short selling opportunities. The ETFs included in this list are rated as sell candidates for two reasons. First, each of these funds is deemed to be in a downtrend based on the fact that its 50-day moving average is below its 200-day moving average, which are popular indicators for gauging long-term and medium-term trends, respectively. Second, each of these ETFs is also trading above its 20-day moving average, thereby offering a near-term “sell on the pop” opportunity given the longer-term downtrend at hand. Note that this prospect list also features a liquidity screen by excluding ETFs with average trading volumes below the one million shares mark. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETFdb.com premium content, sign up for a free 14-day trial to ETFdb.com Pro.
The Covid-19 virus remains an active situation in China and for some investors, assets in the world's second-largest economy aren't worth gambling on right now. One way to stay abreast of coronavirus happenings in China while monitoring possibly reentry into Chinese stocks is with the iShares MSCI China ETF (MCHI) . “The $5.06 billion MCHI holds almost 600 stocks, giving investors a deep bench compared to some other US-listed China ETFs,” reports Nasdaq.
Investors can expect a heavy dose of volatility for China’s online commerce giant Alibaba during Thursday’s trading session as its set to report fiscal third-quarter earnings. Moreover, investors will ...
While value bargain hunters may look to the pullback in China as a buying opportunity, ETF investors should reconsider the urge. “For a long time I thought the market sentiment was so strong that we could overcome a mounting list of economic uncertainty,” Economist Mohamed El-Erian told CNBC. It’s going to paralyze China.
The stock market is unlikely out of hot water when it comes to the realities stemming from the coronavirus.
Stocks have taken a big hit in the past week on Wuhan coronavirus fears, but Chinese stocks have gotten hit especially hard. Not surprisingly, short sellers have been particularly active in certain Chinese ...
This figure from S3 Partners includes shorting of ETF shares worth $62 million and equities worth $275 million. The top China-centric ETFs being targeted by short sellers include the ISHS MSCI China ETF (MCHI), ISHS China Large Cap ETF (FXI), Kraneshs CSI China Internet Fund ETF (KWEB) and SPDR S&P China ETF (GXC). Travel restrictions are in place throughout China's major cities and health screenings are increasing at major airports in Asia and Europe.
Index-based ETFs mirror the moves of their underlying holdings. Consequently, if China’s government extends the hiatus on its financial markets, investors using ETFs to access this emerging market will ...
China country-specific ETFs were the hardest-hit areas of the market Monday as investors assessed the extent of the coronavirus outbreak and worried about the potential negative effect it will have on the economy. Among the worst-performing non-leveraged ETFs of Monday, the KraneShares CSI New China ETF (KFYP) decreased 4.9%, CSOP FTSE China A50 ETF (AFTY) plummeted 5.1% and iShares MSCI China A ETF (CNYA) declined 5.5%. Meanwhile, the iShares MSCI China ETF (MCHI) , the largest China ETF by assets, fell 3.6%.
China's market and country-related ETFs were among the hardest hit on Tuesday after a new coronavirus, or the "Wuhan pneumonia", killed six and fueled fears of a larger outbreak that could disrupt the economy. On Tuesday, the iShares MSCI China ETF (MCHI) fell 3.5%, SPDR S&P China ETF (GXC) declined 3.5% and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) decreased 3.1%. A similar coronavirus outbreak of severe acute respiratory syndrome, or SARS, also upended Asian markets and economies in late 2002 after it killed 774 people.