Long-term bearish outlook on FXI ETF, but potential upside supported by optimistic view on China.
From Seeking Alpha: 2024-06-20 13:12:01
In early 2024, the iShares China Large-Cap ETF (FXI) faced a bearish trend, trading at $22.20 per share. Despite recent recovery to $26.80, long-term outlook remains bearish. U.S. and European stocks are near all-time highs, leaving investors struggling to find value. Chinese stocks offer potential upside, supported by the late Charlie Munger’s bullish view on China’s prospects. While China faces economic challenges, improved relations with the U.S. and Europe could boost Chinese stocks significantly. FXI presents an opportunity for long-term investors, with technical resistance at $33.38 and $54.52 levels to watch. Investing in Chinese stocks remains a strategic move for portfolios looking for value and long-term growth potential.
Read more at Seeking Alpha: FXI ETF: A Contrarian Investment Opportunity (NYSEARCA:FXI)