East Asian stocks have been suffering from the recent economic development and the continuous crackdown in China, sell offs in South Korean and Taiwanese tech.
Most recently, the China’s State Administration for Market Regulation issued a set of draft rules aimed at preventing unfair online competition. This adds another blow to the Chinese markets, that is already suffering from weaker economic outlook as depicted in July?s latest data.
Emerging market ETFs with large exposure to Chinese, Taiwanese and South Korean equities took a hit. Vanguard FTSE Emerging Markets ETF (VWO), with 38% exposure to China and 18% to Taiwan lost -1.72% in the last two trading sessions. iShares Core MSCI Emerging Markets ETF (IEMG) with 60% exposure to China, Taiwan and South Korea followed path with -1.64% losses in the same period.
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