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Chinese internet and e-commerce ETFs fall on JD earnings, delisting worries

March 11, 2022
Source: internetdo.com internetdo.com
News Snapshot:
Thursday’s sharp decline in shares of JD.com (NASDAQ:JD) put pressure on a series of ETFs tied to China’s internet and e-commerce sectors, as investors worried about slowing revenue growth and further pressure for delisting. The sell-off included a substantial drop in the Invesco Golden Dragon China Portfolio ETF (NASDAQ:PGJ) and KraneShares CSI China Internet ETF (NYSEARCA:KWEB). PGJ and KWEB both showed declines of about 10% in Thursday’s midday trading. With the retreats, both ETFs also reached new intraday 52-week lows. The slump in the ETFs coincides with a nearly 14% slide in JD following the release of the Chinese e-commerce...
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China Tech Buzz Topics: China | Chinese | delisting | e-commerce | ETF | GAAP | Internet | JD | JD.com | loss | management | nasdaq | research | revenue | shares | Sharp | stock | stock market | technology

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