How Chinese ETFs Reacted to the Market

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By Chris Lange Updated Published
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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

Photo of Chris Lange
About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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