China ETFs on pace for best day ever after government hints at market stimulus

China-focused exchange-traded funds were on pace for their best day on record after a state-owned newspaper urged investors to purchase equities, saying, according to a translation, that a "healthy bull market" is good for the world's second-largest economy, attempting to shake off the economic effects of the COVID-19 pandemic. The largest China ETF, the iShares MSCI China ETF [S: MCHI], was up 6.8% at midday, its best performance in its nine-year history. The SPDR S&P China ETF /zigman2/quotes/209472236/composite GXC +2.09% was 7.1% higher, and the Xtrackers Harvest CSI 300 China fund /zigman2/quotes/205950053/composite ASHR +1.07% soared 10.6%, also an all-time high, back to 2013. Some funds that focus on particular sectors of the economy did even better: the Global X MSCI China Information Technology /zigman2/quotes/201468316/composite CHIK +0.92% was nearly 12% higher. In the year to date, the iShares fund and the SPDR fund have both gained a little less than 14%, while the Xtrackers product is up 16.4%, compared to a 2% decline for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% . On Monday, the Shanghai Composite Index closed 5.7% higher.

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SPDR S&P China ETF

US : U.S.: NYSE Arca

$ 149.20

+3.05 +2.09%

Volume: 78,323

Jan. 25, 2021 8:00p

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Xtrackers Harvest CSI 300 China A-Shares ETF

US : U.S.: NYSE Arca

$ 43.27

+0.46 +1.07%

Volume: 2.04M

Jan. 25, 2021 8:00p

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Global X MSCI China Information Technology ETF

US : U.S.: NYSE Arca

$ 37.74

+0.34 +0.92%

Volume: 27,309

Jan. 25, 2021 8:00p

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S&P 500 Index

US : S&P US

3,855.36

+13.89 +0.36%

Volume: 2.79B

Jan. 25, 2021 5:15p