Chinese Tech ETF Bleeds as the U.S. Tariff Fight Brings the Pain
- KraneShares fund dips, loses assets as other China ETFs thrive
- Baidu, Alibaba, Tencent tumble, dragging ETF down with them
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The tit-for-tat tariff dispute between the U.S. and China is taking a toll on the biggest Chinese exchange-traded fund tracking technology.
Investors have pulled $221 million from the $1.2 billion KraneShares CSI China Internet Fund, or KWEB, over the past two weeks as its share price has plummeted more than 10 percent in the last two weeks. By comparison, the $3.5 billion iShares MSCI China ETF, ticker MCHI, has lost 4.4 percent and seen $87 million of inflows over that time frame, and the $4 billion iShares China Large-Cap ETF, ticker FXI, has lost just 1.8 percent and had no outflows or inflows.