That does not mean all investors are feeling cheery about Chinese equities.

“Defensive sectors of the stock market are leading, and property stocks are lagging, indicating Chinese stocks could fall further,” Schwab said in a recent note, according to Investor’s Business Daily.

Schwab has a neutral rating on China, citing low valuations as a positive, but the brokerage firm expressed doubt regarding the efficacy of the government’s economic recovery claims, IBD reported.

iShares China Large-Cap ETF

ETF Trends editorial team contributed to this post.