: U.S.-traded Chinese stocks clinch best week since at least March as reopening hopes help spark rebound

by | Dec 2, 2022 | Stock Market

Shares of U.S.-traded Chinese stocks on Friday posted their best week since at least March, with one popular exchange-traded fund clinching its biggest weekly advance since 2011, as shared recovered from last week’s punishing selloff. The KraneShares CSI China Internet ETF
KWEB,
+6.30%
rose 6.3% on Friday, bringing its weekly gain to nearly 25%, its strongest weekly performance since the week ended March 18, when it rose 28.8%, according to FactSet data. The closely-watched ETF tracks the performance of some of the largest China-based firms that have American depositary receipts trading in the U.S.

See: China stocks including Alibaba, Nio rally as Chinese officials say they’ll boost vaccines for the elderly Other China-focused ETFs and companies also recorded their best week in just as long, if not longer. Chinese stocks roared higher in the second half of March after fears subsided that U.S. authorities could hasten the delisting of certain Chinese firms whose ADRs traded in the U.S. Meanwhile, the iShares MSCI China ETF
MCHI,
+2.45%,
which rose 2.5% on Friday, clinched a weekly gain of 12.3%. That performance surpassed the 12.2% gain from the week ended Nov. 4 to become the biggest weekly gain for the ETF since October 2011. Other popular China-focused ETFs that saw their biggest weekly gains since March included the iShares China Large-Cap ETF
FXI,
+2.85%,
the Invesco Golden Dragon China ETF
PGJ,
+5.20%
and the Xt …

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