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China small-cap ETF ASHS hits a new 52-week high, soaring 67% from lows on AI optimism, China rally and easing Middle East tensions.
Wall Street delivered a muted performance last week due to a host of global tensions.
Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF ASHS is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 57.4% from its 52-week low price of $22.02/share.
Chinese companies are being encouraged to return cash to shareholders - and are finding good reasons to do so. Regulators are encouraging companies to focus on shareholder returns, and changing macroeconomic conditions are making it easier for Chinese companies to pay dividends. Given the risks, we think an active investing approach is especially important when investing in high-dividend Chinese stocks.
Data came in generally in line or slightly weaker than forecasts, as weak confidence continued to depress investment and consumption. New home prices fell by -0.65% MoM in July, compared to a -0.67% MoM drop in June.
The People's Bank of China kept the one-year medium-term lending facility rate unchanged at 2.5% today, in line with market expectations. We believe that in conjunction with today's data releases and the start of rate cuts in other central banks such as the European Central Bank and Bank of Canada, the odds of a PBoC rate cut in the coming months have risen.
Key economic indicators are mixed in China and, in fact, were mostly weaker than expected last month. So, policymakers are now stepping up support for the property sector in particular.
China's near-term challenges and long-term uncertainties are plentiful, but the widespread pessimism towards the Chinese economy and markets feels excessive.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.