Click to Enlarge YTD Return: -15%
No surprise here. The iShares China Large-Cap ETF (FXI) is down more than 15% year-to-date thanks to continued weakness in China data, particularly in the manufacturing sector.
China’s GDP continues to fade, with previous forecasts moving down to the 7% range — and the growth rate could be the slowest there since 1999 if those targets hold or move lower.
And at the end of June, Credit Suisse hinted that China’s GDP growth could start with the number 6 when all is said and done … so if you think the recent declines should be a buying opportunity in this China ETF, think again.