China ETFs Plunge in New York on Measures to Curb Margin Trading
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The largest U.S. exchange-traded funds tracking Chinese stocks sank on concern the nation’s equity markets will retreat after posting world-beating rallies as policy makers take measures to slow gains.
The iShares China Large-Cap ETF, tracking Chinese companies trading in Hong Kong, dropped 4.2 percent on Friday in New York for the steepest decline since January 2014. The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF tumbled 5 percent, the most in two months. A Bloomberg index of the most-traded Chinese equities in the U.S. lost 1.4 percent.