: China ETFs jump as report says Beijing plans stimulus push
China-related exchange-traded funds rose Thursday and were at session highs in afternoon trade after The Wall Street Journal reported that Beijing was considering a number of stimulus measures aimed at boosting its flagging economy. Potential measures included billions of dollars in new infrastructure spending and looser rules that would encourage property investors to buy more homes, the report said. China’s central bank earlier this week cut policy rates. The iShares MSCI China ETF MCHI was up 1.8%, putting it on track for a weekly gain of 4.8% and taking its rise so far in June to 10.2%. The ETF has just turned positive for the year, up 0.3%. Thursday’s gains accompanied a rally for other equities, with the Dow Jones Industrial Average up 435 points, or 1.3%, in the final hour of trading, while the S&P 500 SPX also rose 1.3% and the Nasdaq Composite COMP advanced 1.2%.
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