China stock ETFs rip higher even as mainland markets close for holiday

Oct. 2, 2024 - CNBC

People walk on a pedestrian bridge displaying the Shanghai and Shenzhen stock indexes on January 02, 2024 in Shanghai, China. Exchange-traded funds overseas that track Chinese stocks continued their stimulus-triggered rally Wednesday even as mainland markets were shut for a week-long holiday.

Mainland Chinese markets, including Shanghai and Shenzhen stock exchanges, will remain closed until Oct. 8.

"I am bullish on Chinese equities; this time is different," Scott Rubner, tactical specialist at Goldman Sachs, said in a note. "I have never seen this much daily demand for Chinese equities: I do not even think we have gone back to benchmark index weights yet.

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