KraneShares CSI China Internet ETF KWEB is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 45.5% from its 52-week low price of $22.68/share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
KWEB in Focus
The underlying CSI Overseas China Internet Index is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors. The product charges 69 bps in annual fees.
Why the Move?
On Sept. 24, 2024, China's central bank, the People’s Bank of China (PBOC), has announced a broad range of monetary stimulus measures aimed at boosting the world's second-largest economy. This move indicates growing concern within Xi Jinping's administration over the nation’s slowing growth and declining investor confidence. Several China ETFs, thus, have been hovering around a 52-week high (read: A Few Reasons to Buy China ETFs Now).
More Gains Ahead?
Currently, KWEB has a Zacks ETF Rank #3 (Hold) and Medium risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 25.32 (as per Barchart.com), which gives cues of a further rally.
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China Internet ETF (KWEB) Hits New 52-Week High
KraneShares CSI China Internet ETF KWEB is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 45.5% from its 52-week low price of $22.68/share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
KWEB in Focus
The underlying CSI Overseas China Internet Index is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors. The product charges 69 bps in annual fees.
Why the Move?
On Sept. 24, 2024, China's central bank, the People’s Bank of China (PBOC), has announced a broad range of monetary stimulus measures aimed at boosting the world's second-largest economy. This move indicates growing concern within Xi Jinping's administration over the nation’s slowing growth and declining investor confidence. Several China ETFs, thus, have been hovering around a 52-week high (read: A Few Reasons to Buy China ETFs Now).
More Gains Ahead?
Currently, KWEB has a Zacks ETF Rank #3 (Hold) and Medium risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 25.32 (as per Barchart.com), which gives cues of a further rally.