Exchange-traded funds focused onChina are posting the world’s biggest outflows amid concern economic growth is slowing.Withdrawals from U.S.-based Chinese ETFs totaled $87.5 million March 10, the most among 46 nations, bringing this year’s redemption to $380.7 million. The iShares China Large-Cap ETF, the largest Chinese exchange-traded fund in the U.S., fell 1.6 percent to $33.90 yesterday.
Official data over the weekend showed the steepest slide in exports since 2009 and the slowest inflation in 13 months, highlighting the challenges for Premier Li Keqiang in achieving this year’s economic-growth target of 7.5 percent. China had its first onshore bond default after Shanghai Chaori Solar Energy Science & Technology Co., a solar-panel maker, said last week it would fail to pay interest on notes due March 2017.
Investors are pulling out of financial markets where there’s an economic slowdown and a lot of uncertainties. The outflow of capital from China will not end until investors stop seeing all the headlines about China indicating the country’s growth is faltering.
Official data over the weekend showed the steepest slide in exports since 2009 and the slowest inflation in 13 months, highlighting the challenges for Premier Li Keqiang in achieving this year’s economic-growth target of 7.5 percent. China had its first onshore bond default after Shanghai Chaori Solar Energy Science & Technology Co., a solar-panel maker, said last week it would fail to pay interest on notes due March 2017.
Investors are pulling out of financial markets where there’s an economic slowdown and a lot of uncertainties. The outflow of capital from China will not end until investors stop seeing all the headlines about China indicating the country’s growth is faltering.