BlackRock China ETF Suffers $150 Million Outflow Amid Stock RoutBy
Investors are yanking money from one of the largest exchange-traded funds tracking Chinese companies as a global stocks downturn spreads to the Asian nation’s stocks.
Investors pulled about $150 million from BlackRock Inc.’s Hong Kong-listed iShares FTSE China A shares ETF on Wednesday, the biggest daily outflow since May 2015, according to data compiled by Bloomberg. The fund’s assets have dropped 18 percent this year to $3.2 billion and short interest as a percentage of outstanding shares rose to the highest since January 2017.
The ETF declined 12 percent over the past week as U.S. stock losses spread to Asia and measures of volatility surged.