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How Chinese ETFs Reacted to the Market

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The broad markets in the U.S. opened lower Monday morning, not from a weakness in the earnings season or even a huge dip in commodities. In fact it was an issue with the Chinese markets. The (Shanghai) SSE Composite Index dropped nearly 8.5%, the single greatest daily loss in almost a decade. Separately the (Hong Kong) Hang Seng Index was down 3.1%.

24/7 Wall St has chosen a few Chinese stocks and funds to see how the market reacted: iShares China Large-Cap (NYSEMKT: FXI), Direxion Daily FTSE China Bull 3X EFT (NYSEMKT: YINN), Templeton Dragon Fund, Inc. (NYSE: TDF), and iShares MSCI China (NYSEMKT: MCHI).

On Monday morning, shares of FXI were down 4.1% at $40.05 within its 52-week trading range of $36.72 to $52.85. It’s worth noting that shares are down 24.2% from their 52-week high. So far on the year shares are up 0.8% year to date.

YINN was down 12% year to date, and nearly an additional 12% from Friday’s close to $27.63. It has a 52-week trading range of $24.96 to $68.54 with units valued 59.7% lower than the high.

Shares of the Templeton Dragon Fund were down 3% at $22.81 on a 52-week trading range of $21.93 to $28.25. From the 52-week high shares are down 19.3% and so far are down 2% year to date.

MCHI shares were down 4% at $49.46. The stock has a range of $45.59 to $64.58, and shares are down 23.4% from the high. Year to date shares were actually up 2.7% prior to this trading session.

ALSO READ: Credit Suisse Remains Cautions in China

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