WSJ: “Chinese Stocks Sink Further as Challenges Mount”By admin_45 in IN THE NEWS
Excerpt from The Wall Street Journal quoting DataTrek's Jessica Rabe:
.... "Shares of internet companies have been especially punished. The KraneShares CSI China Internet ETF fell 12% on Monday, its biggest one-day fall on record, to the lowest level since it started trading in 2013, according to FactSet data. It edged higher 3.6% in recent trading Tuesday.
“The decline in Chinese internet company stocks over the last 13 months has been even worse than the comparable period for U.S. tech stocks in the early 2000s,” wrote Jessica Rabe, co-founder of DataTrek Research, in a note to clients early Tuesday.
The fund has fallen roughly 79% from its all-time high, and it has been around 270 trading days since it peaked. At the same time in 2001, the tech-heavy Nasdaq had fallen around 65% from its dot-com bubble peak, according to Ms. Rabe"....
Read the full article here in the WSJ!