Hong Kong ETF (EWH) Hits New High

The exchange traded fund (ETF) iShares MSCI Hong Kong Index (EWH) hit a new high yesterday. Currently, it’s up 18.6% year-to-date. EWH’s latest high could be a result from China’s recent decision to allow domestic, individual retail investors to directly invest in Hong Kong’s markets. According to a financial strategist, the Hong Kong dollar’s value against the U.S. dollar has strengthened, which has helped keep fund inflows strong, reports AFX News Limited for Forbes. However, EWH could be affected by concerns that an economic recession is on the way for the U.S. and Japan, which are the world’s largest economies and the top consumers of Hong Kong’s exports.