Why US-Listed China ETFs Are Gaining Up To 6% In Friday's Premarket
Portfolio Pulse from Pooja Rajkumari
U.S.-listed China-based ETFs surged in pre-market trading due to China's stronger-than-expected GDP figures for Q3. Key ETFs like KWEB, FXI, and MCHI saw significant gains.
October 18, 2024 | 10:57 am
News sentiment analysis
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POSITIVE IMPACT
The iShares China Large-Cap ETF (FXI) increased by 4.93% in pre-market trading due to China's GDP data.
FXI's rise reflects investor optimism in large-cap Chinese stocks following the positive GDP report, suggesting a favorable outlook for these companies.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
The KraneShares CSI China Internet ETF (KWEB) rose by 6.06% in pre-market trading following China's strong GDP figures.
KWEB's significant pre-market rise is directly linked to China's better-than-expected GDP growth, indicating positive investor sentiment towards Chinese internet companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares MSCI China ETF (MCHI) climbed 5.15% in pre-market trading after China's GDP figures exceeded expectations.
MCHI's pre-market gain is driven by China's GDP performance, indicating strong investor confidence in a broad range of Chinese equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100