The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the CSI Overseas China Internet Index. The fund invests at least 80% of its total assets in equity securities of the index and in depositary receipts representing such securities. The index is designed to measure the equity market performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors, and are listed outside of Mainland China, as determined by the index provider. The fund is non-diversified.
IPO Year: n/a
Exchange: NASDAQ
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NEW YORK, Oct. 7, 2021 /PRNewswire/ -- Krane Funds Advisors, LLC ("KraneShares"), a global asset manager known for its China-focused exchange-traded funds (ETFs) and innovative China investment strategies, today announced the launch of the KraneShares China Innovation ETF (Ticker: KGRO). KGRO is an active ETF that provides investors with core exposure to the brightest high-growth areas within China's economy by combining "New China" sectors. These areas include China internet, healthcare, clean technology, 5G, semiconductors, and the Shanghai Stock Exchange Science and Technology Innovation Board (STAR Market). KGRO primarily invests in the following KraneShares ETFs: KraneShares CSI China I
The Chinese exchange-traded funds (ETFs) market has seen a fivefold increase in investments over the past three years What Happened: As per Morningstar, the inflow into Chinese ETFs has experienced “staggering” growth, consistently reaching new highs over the last five years, CNBC reported on Tuesday. Wanda Wang, Morningstar’s Research Manager, mentioned that the annual inflows to China ETFs surged almost fivefold in the past three years. Data from the American financial services firm shows that the total yearly inflows to Chinese ETFs swelled from 127.2 billion yuan ($17.49 billion) in 2021, to 387.2 billion yuan ($53.2 billion) in 2022. In 2023, this figure hit 604.3 billion yuan ($8
Futu Holdings Limited (NASDAQ:FUTU) stock is trading higher on Wednesday, thanks to Alibaba Group Holding Limited (NYSE:BABA) leading a tech rally in Hong Kong. The online brokerage and wealth management platform also announced Wednesday that its wealth management business has surpassed $10 billion in assets under management. Futu’s wealth management platform offers mutual funds, private funds, bonds, and structured notes to Hong Kong and Singapore clients. Futu Holdings stock gained 66% in the last 12 months. Investors can gain exposure to the Chinese equity market via iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB). Pr
Chinese stocks improved on Monday after data on June manufacturing came in better than forecast and reached its highest point in three years. The CSI 300 Index, which follows China’s largest companies listed in Shanghai and Shenzhen, rise 0.5% on Monday to come out of a four-month low and build on Friday’s 2% gain, the South China Morning Post reported. Hong Kong's financial markets were closed for a holiday. Japan's Nikkei 225 edged up 0.1%, while South Korea's Kospi gained 0.2% yet Australia's S&P/ASX 200 declined 0.2%. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) improved from 51.7 in May to to 51.8 in June to set the fastest pace since May 2021 and beat a
A JPMorgan Chase & Co analyst, who was previously bearish on China’s tech sector, is now predicting a significant increase in stock prices. What Happened: Alex Yao, the co-head of Asia TMT research at JPMorgan, has made a remarkable shift in his stance on China’s tech sector. Yao, who was once skeptical about the sector’s potential, is now forecasting a 20-25% increase in stock prices, reported Bloomberg on Wednesday. Yao attributes this potential growth to an improved cost structure and less aggressive competition. He also emphasizes the significance of macroeconomic developments in stabilizing the sector’s share price trend. This change in tone from a notable skeptic like Yao is i
Pan Gongsheng, governor of the Chinese central bank, People’s Bank of China, dismissed the idea that its bond trading is a form of massive monetary easing. What Happened: Gongsheng clarified that the bond trading would be a liquidity management tool involving both buying and selling, the Wall Street Journal reported on Wednesday. The PBOC and the finance ministry are exploring ways to incorporate treasury bond trading into their policy toolkit. He emphasized that this practice would not be equivalent to quantitative easing, a strategy where monetary authorities acquire assets like government bonds to reduce yields after exhausting traditional policy tools. The PBOC’s bond trading wi
China’s housing market continued to decline in May as manufacturing disappointed expectations. The real estate sector saw declines in investment and home prices, while industrial output gained 5.6% in May, according to the National Bureau of Statistics, the latter slowing from April and missing Bloomberg projections. Retail sales did better than expected, but China’s consumers are still reluctant to return to pre-pandemic spending habits, Bloomberg reported. This lackluster scenario may prompt Beijing to spur consumer demand in an effort to meet 5% growth targets, possibly through increased government spending and central-bank efforts to put a floor under housing markets and boost l
In a bid to stabilize the yuan and manage liquidity, the People’s Bank of China has decided to keep its key interest rate unchanged for the tenth consecutive month. What Happened: The PBOC has maintained the one-year policy loan rate, also known as the medium-term lending facility rate, at 2.5% for the tenth month in a row on Monday, reported Bloomberg. This decision aligns with the forecast in a Bloomberg survey. The bank also withdrew a net 55 billion yuan ($7.6 billion) from the banking system to prevent excessive liquidity. Despite a fragile recovery in the world’s second-largest economy, the PBOC has chosen to prioritize currency stability over reducing borrowing costs. This c
Alibaba Group Holding Ltd (NYSE:BABA) is prioritizing long-term growth over near-term profits. However, analysts are warning that the e-commerce giant’s efforts might be hampered by fierce competition. What Happened: Alibaba’s market dominance has been significantly eroded due to increasing competition and a lack of focus on technological and pricing strategies, reported The Wall Street Journal on Tuesday. Despite early signs of success, analysts are concerned that the competition could prevent Alibaba from regaining its former market dominance, according to the report. The company’s market share has fallen from an impressive 83% when it went public in 2014 to 39.5% currently, as per d
Chinese technology stocks are facing a significant downturn, nearing a technical correction due to profit-taking and geopolitical uncertainties. What Happened: The Hang Seng Tech Index, which tracks Chinese tech stocks listed in Hong Kong, fell by as much as 0.9% on Friday. This decline has pushed the index down more than 10% from its May 20 high, indicating a technical correction, according to Bloomberg. Major contributors to the decline include Meituan. (OTC:MPNGF) and Lenovo Group (OTC:LNVGF) The sector had previously seen a rally in April, driven by optimism in earnings. However, recent price cuts to AI services by Alibaba Group Holding (NYSE:BABA) and Tencent Holdings (OTC:TCEH
U.S. short sellers are speculating that the surge in Chinese stocks is over. Capital will likely shift to emerging markets outside of China. The trend has led to a selloff in Chinese stocks: Baidu, Inc (NASDAQ:BIDU) JD.com, Inc (NASDAQ:JD) Alibaba Group Holding Ltd (NYSE:BABA) Bilibili Inc (NASDAQ:BILI) PDD Holdings Inc (NASDAQ:PDD). Bearish bets against BlackRock Inc's (NYSE:BLK) iShares China Large-Cap Exchange Traded Fund, which invests in Hong Kong equities like Tencent Holdings Ltd (OTC:TCEHY) and Meituan (OTC:MPNGY), have reached their highest since October 2020, as per S&P Global data. Another iShares ETF that includes both Hong Kong and mainland stocks has