KraneShares CSI China Internet ETF (KWEB) has been trending recently as Beijing has announced the conclusion of their cyber security probe on DiDi Global (DIDI). Though KWEB isn’t invested in DIDI it has seen positive growth as the ending of the probing offers more breathing room for tech companies to grow. KWEB is up about +5% for the day with its top two holdings being Tencent Holdings (TCEHY) +2.7% and Alibaba Group (BABA) +8.4% totaling 20% of KWEBs holdings.
ETF Newz Says:
KWEB isn’t the only fund receiving growth in China after the change as other similar ETFs like Invesco Golden Dragon China ETF (PGJ) +6.7% and Invesco China Technology ETF (CQQQ) +3.2% are up as well.