Shares of two China-focused exchange-traded funds were down sharply Thursday morning, adding to steep losses this year, as U.S. Secretary of State Antony Blinken reportedly plans to affirm that China is the biggest rival of the United States despite so much global attention on the Russia-Ukraine war.
Blinken had been scheduled to speak Thursday on the White House's plan to deal with China, but the State Department said Wednesday afternoon that the speech would be postponed to a later date as he had tested positive for COVID-19, according to a Wall Street Journal report. Shares of the KraneShares CSI China Internet ETF KWEB, -7.80% were down around 7% Thursday morning, bringing year-to-date losses to almost 26%, while shares of the iShares MSCI China ETF MCHI, -5.
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