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Internet Heavy China ETFs Take a Hit as Trump Applauds Tariffs

  • iShares China fund drops 1.5 percent as tech shares wobble
  • Funds with big China web exposure see double average volume
Bloomberg business news
U.S.-China Trade Talks Break Down as Fresh Tariffs Loom

Exchange-traded funds with exposure to the Chinese Internet behemoths Alibaba Group Holding Ltd. and Baidu Inc. are falling after President Donald Trump praised tariffs on technology from China.

The $3.4 billion iShares MSCI China ETF, or MCHI, was down 1.5 percent Thursday and the $1.2 billion KraneShares CSI China Internet Fund, or KWEB, dropped 1.2 percent. Both funds saw trading spikes, with volume at about twice the 20-day average for this time of day.