ETF Outlook for Wednesday, May 7, 2014
KraneShares China Internet ETF (NYSE: KWEB)
After the bell last night the Chinese e-commerce giant, Alibaba, reported it has filed for an IPO in the U.S. The company that makes up 80 percent of the e-commerce in China is expected to be one of the biggest IPOs in the history of the U.S.
With several of Alibaba’s peers in the portfolio of KWEB it will be interesting to see how the ETF reacts to the news. There is some consensus that believes the Chinese Internet stocks will fall in a, “buy the rumor, sell the news” situation. Year-to-date KWEB is down 2.1 percent.
iShares MSCI Japan Index ETF (NYSE: EWJ)
The Japanese stocks got crushed over night with the broad-based Nikkei closing down 2.9 percent to the lowest level ...
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