The Chinese stock market rebounds, closes 1.91% higher

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May 15, 2019 11:45am NYSE:FXI

NYSE:FXI | News, Ratings, and Charts

From Eustance Huang:

Shares in Asia were higher on Wednesday following an earlier slump this week as trade tensions between the U.S. and China escalated.

Mainland Chinese shares advanced on the day, with the Shanghai compositeadding 1.91% to 2,938.68 and the Shenzhen component rising 1.45% to 9,169.15. The Shenzhen composite also gained 2.325% to 1,577.92.

In Hong Kong, the Hang Seng index added 0.73%.

Japan’s Nikkei 225 rose 0.58% to close at 21,188.56, while the Topix index added 0.60% to finish its trading day at 1,544.15.

Japanese automaker Nissan Motor saw its shares plummet 6.47% after the company posted 2018 fiscal earnings that were their lowest level in 11 years.

In South Korea, the Kospi rose 0.53% to close at 2,092.78 as shares of LG Chem jumped 2.71%. Over in Australia, the ASX 200 gained 0.71% to finish its trading day at Down Under at 6,284.20.

The iShares China Large-Cap ETF (FXI) was trading at $41.45 per share on Wednesday morning, up $0.18 (+0.44%). Year-to-date, FXI has declined -10.22%, versus a 6.91% rise in the benchmark S&P 500 index during the same period.

FXI currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #8 of 38 ETFs in the China Equities ETFs category.

This article is brought to you courtesy of CNBC.

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