China's GDP growth of 4.7% in Q2 misses expectations, causing losses in Chinese stocks and ETFs.

From IAC: 2024-07-15 16:39:38

China’s GDP growth of 4.7% in Q2 missed expectations, causing losses in Chinese stocks and ETFs in the US market. The slowdown was attributed to a real estate slump and trade tensions, disappointing analysts who expected 5% growth. This news comes after a rebound in China-focused ETFs earlier this year.

The market for US-traded China stocks and ETFs took a hit due to China’s growth slowdown. E-commerce giants like Alibaba, PDD Holdings, and JD.com saw declines of 2.1%, 3.1%, and 5.3% respectively. The $5.7 billion iShares MSCI China ETF and iShares China Large-Cap ETF both dipped over 2% Monday, impacting investors.

Shares of Alibaba and PDD Holdings, major holdings in the iShares MSCI China ETF, dropped 2.1% and 3.1% respectively. The iShares China Large-Cap ETF, with assets totaling $4.7 billion, also saw a 2.2% decrease. Despite earlier inflows, the news of China’s growth disappointment hurt these popular Chinese ETFs.



Read more at IAC: China’s Growth Slowdown Hits China-Focused ETFs and Stocks