China’s Latest Investment Frenzy Sparks Wild Swings in Gold ETF
- China Asset Management’s ETF premium has surged over 30%
- Firm says trading halt meant to protect investor interests
This article is for subscribers only.
An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country’s economic challenges.
Trading for the ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF was halted until 10:30 a.m Monday local time, in order to protect investors’ interests, China Asset Management Co. said in a statement Monday. It was the second trading suspension for the product since last Tuesday.