The decision by China’s ruling communist party to crackdown on providers of online education continues the assault on the local tech sector.
All of the top 20 worst ETF performers of the week tracked Chinese stocks, particularly those within the technology sector. KraneShares CSI China Internet ETF (KWEB) fell -16.6% over the week meaning this fund is 28% down on the month. However, some investors have seen this as an opportunity to buy the dip as KWEB has seen $301 million of new flows this week.
Other China focused ETFs that suffered include Global X Emerging Markets Internet & Ecommerce ETF (EWEB) down 14.7% on the week and Invesco China Technology ETF (CQQQ) falling -13.5%.
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