China ETF (CNYA) Hits New 52-Week High
iShares MSCI China A ETF CNYA is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 40.21% from its 52-week low price of $27.63 per share.
Are more gains in store for this ETF? Let’s 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.
CNYA in Focus
The underlying MSCI China A Inclusion Index comprises domestic Chinese equities that trade on the Shanghai or Shenzhen Stock Exchange. The product charges 60 bps in annual fees (See: All Asia-Pacific (Emerging) ETFs).
Why the Move?
China-focused funds appear poised for a potential rally amid growing optimism surrounding the meeting between President Trump and Chinese President Xi Jinping. Investors are hopeful that the summit could help ease trade tensions, improve bilateral relations and reignite momentum in Chinese equities, especially in the tech sector.
More Gains Ahead?
CNYA might continue its strong performance in the near term, with a positive weighted alpha of 37.34 (per Barchart.com), which gives cues of another rally.
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iShares MSCI China A ETF (CNYA): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
