Looking at the weekly chart, we can see GXC ETF is still on a bullish trend , despite the correction of over 30% since its peak in Feb this year , recording a high of 155 price level.
The political situation in China is indeed worrying some of the institutional buyers, some calling the big boys like Tencents a SELL which was not what the case just a year or so ago......
Property developers defaulting on its loans - causing ripples to other players and the banks much like a domino effect. And the tech stocks are hardly to celebrate though some say it may have bottom (an art rather than science to predict).
US-China trade tension remains a thorny issue with the everlasting Taiwan implication (now that HK coming under China is a chapter closed).
Looking at the global Covid-19 situation, many countries are now realising they have to open up their borders to trade, exchange expertise and encourage traveling for each country to continue hitting their GDP figures.
I will be nibbling again on this ETF next week and hope my charts prove me right in the years to come, haha.
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What a disappointment ! Is China the most hated market now to invest ? With the new variant, Omicron, what will happen to the China and the global economy ?