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Global X MSCI China Consumer Discretionary ETF (CHIQ) - free report >>
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Global X MSCI China Consumer Discretionary ETF (CHIQ) - free report >>
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China Consumer ETF (CHIQ) Hits New 52-Week High
For investors looking for momentum, Global X MSCI China Consumer Discretionary ETF (CHIQ - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 48.2% from its 52-week low of $12.56/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
CHIQ in Focus
The MSCI China Consumer Discretionary 10/50 Index follows a rules-based methodology that is designed to select constituents of the MSCI China Index. The fund charges 65 bps in fees (see all Asia-Pacific (Emerging) ETFs here).
Why the Move?
China's retail sales jumped 8% year over year in November 2019, after a 7.2% gain in the previous month and above market estimates of a 7.6% rise. This marked the largest rise in retail trade since June. This explains the latest jump in the China consumer ETF. The announcement of the phase-one U.S.-China trade deal was an added tailwind.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). It also has a positive weighted alpha of 39.20, which gives cues of further rally.
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