China ETFs hit by bets on a Trump win, weaker economic data
Live MintOutflows across US exchange-traded funds tracking Chinese equities persisted for a sixth-straight week, as weaker economic data and implications of a Trump victory spooked investors — even before Saturday’s assassination attempt. The KraneShares CSI China Internet fund saw $122 million in outflows, followed by Xtrackers Harvest CSI 300 China A-Shares ETF with $53.62 million and iShares China Large-Cap ETF with $32.36 million. Key economic indicators including inflation, trade and credit data released last week have all damped sentiment, while figures released Monday — showing that GDP expansion was the slowest in five quarters and home prices fell again in June — added to pressure on policymakers to step up support during this week’s Third Plenum in Beijing. Beyond worries around China’s economic health, renewed bets that former President Donald Trump will win back the White House during November’s elections after a failed assassination attempt over the weekend are fueling concern over tighther policy and more tariffs against the Asian nation.